1 IN THE HIGH COURT OF JUDICATURE AT BOMBAY APPELLATE SIDE, CIVIL JURISDICTION CIVIL APPLICATION NO.2040 OF 2007 IN WRIT PETITION NO.7459 OF 2004 Reserve Bank of India ..Applicants Vs. Shri Datta Nagari Sahakari Pat Sanstha Maryadit ...Petitioner And Krishna Valley Co-op. Bank Ltd. & Ors. ..Respondents Mr. Atul Rajadhyaksha, Senior Counsel with Mr. Amol Bavare i/b. Udwadia and Udeshi, for the Applicant. Mr. Uday Warunjikar for the Petitioner. Mr.Shital Kamble, i/b. Umesh Mankapure, for Respondent No.1. Mr. S.R. Nargolkar, A.G.P. With Mr. S.S. Chinchalikar, AGP for Respondent 4 and 5. Mr. Dushyant Pagar i/b. Shriram Kulkarni, for Respondent No.6. CORAM : F.I. REBELLO & SMT. R.S. DALVI, JJ. DATED : 5th August, 2009. P.C. In view of the direction issued in para.2 of the order dated 19th November, 2005 the R.B.I. has moved this Court for certain directions. 2 2. On consideration of the directions issued in para.2 it is clear that it is only in the event R.B.I. decides to cancel the Banking License was the R.B.I. directed to move this Court before giving to that decision. That would not preclude R.B.I. from issuing a show cause notice and proceed in the matter except to the extent that the formal order of cancelling the license will not be issued to the Respondent No.1 without permission of this Court. Apart from the Respondent No.1 it will be open to the petitioner also to submit his say to the show cause notice. R.B.I. Also to consider the same. . Civil Application disposed of accordingly. (SMT. R.S. DALVI, J.) (F.I. REBELLO, J.)