Judgment

Srikrishna, J.—By these special leave petitions, Rameshchandra Nandlal Parikh (hereinafter "the Petitioner") has impugned the common judgment of the High Court of Gujarat (dated 7.5.2004) dismissing a series of criminal miscellaneous applications, which were intended to question the correctness of certain ongoing investigations into a large economic crime.

2. The Petitioner was the Managing Director (between 1973 and 1991) and thereafter. Chairman of the Second Respondent-Madhavpura Mercantile Co-Operative Bank Limited (hereinafter "the Bank") having its registered office at Shahibaug, Ahmedabad, Gujarat. The Bank was operating under the provisions of the Multi-State Cooperative Societies Act, 1984 (hereinafter "the Societies Act") and was also subject to other laws, such as the Banking Regulation Act, 1949. On 13.3.2001, the Reserve Bank of India, noticing the critical financial situation of the Bank, made a requisition to the Central Registrar under Section 48(7) of the Societies Act, to appoint an Administrator to manage the affairs of the Bank. Accordingly, an Administrator took over the management of the Bank. In the meanwhile, due to the inability of the Bank to repay