1. Petitioners are duly elected Directors constituting the Board of Directors of the 2nd respondent - DCC Bank. They have been so elected on 24.05.2014. They have approached this Court challenging order dated 16.08.2014 passed by the Registrar of Co-operative Societies respondent No.3 herein suspending the Board of Directors, exercising power under Sub-Clause 2 of Section 30 of the Karnataka Co-operative Societies Act, 1959 (for short 'the Act') until further orders and appointing the Deputy Commissioner of the district as Administrator. The said order is produced at Annexure-A. This order is challenged on several grounds.

2. First contention urged by the learned Senior counsel for the petitioners is that the order passed is without jurisdiction and without any power or authority. The 2nd contention is that the 3rd respondent failed to provide an opportunity of hearing to the petitioners to put forth their case before passing the impugned order.

3. Elaborating the first contention learned Senior counsel for the petitioners has placed reliance on the second proviso to Section 30(2) of the Act to contend that the 2nd respondent - DCC bank is not given any financial assist