JUDGMENT

D. A. DESAI, J. :—Construction of Section 73-B of the Maharashtra Co-operative Societies Act, 1960 (Act for short) figures in these two appeals arising from the two decisions rendered by the Bombay High Court, covering the same point and reaching the same conclusion, but the latter one does not take note of the earlier decision.

Re : S. L. P. (Civil) No. 7732/83 :

The Nasik Merchants Co-operative Bank Ltd., the first respondent, is a co-operative Bank deemed to be registered under the Act and is governed by the Act. It was registered on June 11, 1959. It is a specified society within the meaning of the expression in Section. 73-G (1) (vii) of the Act. Accordingly the election of the members of the Committee and the election of the office-bearers by the Committee of the first respondent would be subject to the provisions of Chapter XI-A and has to be conducted in the manner prescribed in the chapter. The Committee in which management of the first respondent vests, is designated as Board of Directors. The term of the members of the Board of Directors is five years. The election to the Board of Directors for the period 1981-82 to 1985-86 became due. As required by S. 144-C, the