JUDGMENT

Tarun Chatterjee, J.—

1. Leave granted.

2. This appeal is filed against an interim order dated 17th of March 2008 in Writ Petition No. 138 of 2008 passed by the High Court of Bombay at Goa whereby the High Court admitted the Writ petition filed by Respondent No.1 and stayed the operation of order dated 16th of August 2007 passed by the Registrar of Co-operative Societies, Goa.

3. The relevant facts leading to the filing of this appeal as emerging from the records of this case have been succinctly referred here for the better understanding and determination of the instant appeal.

The MAPUSA Urban Cooperative Bank of Goa Ltd.(Respondent No.1, hereinafter referred to as “the Bank”) had extended credit facility of Rs.20 lacs to a proprietary firm belonging to one of the Directors of the Woods Beach Hotel Ltd. (hereinafter referred to as “the appellant”) and an immovable property of the appellant namely “Soranto” was allegedly mortgaged to cover the aforesaid credit facility. The appellant was not the principal borrower. The name and constitution of the appellant company was changed and notified to the bank in 1994 but the notice did not mention about the change of shareholders