Judgement

SIKRI, J. (on behalf of himself and Hegde, J.): This appeal by certificate granted by the High Court of Judicature at Bombay is directed against its judgment allowing the writ petition filed by the firm M/s. Dalichand Jugraj Jain, first respondent before us - hereinafter referred to as the petitioners - under Article 226 of the Constitution, and setting aside the order of the Assistant Registrar (D), Co-operative Societies, Bombay, referring the dispute between the petitioners and the Deccan Merchants Co-operative Bank Ltd., appellants before us hereinafter referred to as the Bank.

2. We may mention that in the petition filed before the High Court by the Petitioners there were four respondents; the first respondent was the Assistant Registrar (D), Co-operative, Societies, Bombay, the second respondent was the Registrar s nominee; the third respondent was the Bank and the fourth respondent was Waman Wasudeo Wagh - hereinafter referred to as the original owner. Before us the Bank is the appellant, while the petitioners and the three other respondents before the High Court are the First, second, third and fourth respondents.

3. The main point that arises in this appeal is wheth