JUDGMENT

KANIA, J.:—Leave granted. Counsel heard.

2. This is an appeal from the judgment of a learned single Judge of the Bombay High Court dismissing Writ Petition No. 6058 of 1986 filed by the appellant on the Appellate Side of that Court. The appellant and respondent No. 1 are companies incorporated under the Indian Companies Act. Respondent No. 2 is a Co-operative Society registered under the Maharashtra Co-operative Societies Act, 1961 (hereinafter referred to as the said Act"). Appellant is a member of respondent No. 2-Co-operative Society and has its office premises in the building owned by respondent No.2. Some time prior to September 10, 1985 the appellant entered into an agreement to sell the said office premises to respondent No. 1 subject to the approval of respondent No. 2. The terms of the said agreement were incorporated in a letter dated September 10, 1985 addressed by the appellant to the Vice-Chairman and the President of respondent No. 1. It was set out in the said letter that the price for the said premises was to be calculated at the rate of Rs. 2,000 per square feet. The letter further stated :

"We are agreeable to sell you the same subject to approval of the Co