KOCHAR R.J., J.:---Rule. In view of the urgency and importance of the matter, by consent rule made returnable forthwith. Respondents waive service.

2. Heard. The petitioners are directors/members of the Managing Committee of the Raghuvanshi Co-operative Bank Limited (6th respondent bank). The said bank is registered under the provisions of the Maharashtra Co-operative Societies Act, 1960 in December 1977. The said bank appears to be dominated by the Raghuvanshi community. It is specifically averred in the petition that it derives substantial financial support from the said community and that substantial deposits in the said bank are from the members/institutions of the said community. It is claimed by the petitioners that it has 6700 shareholders and more than 21000 depositors and account holders. The petitioners have further claimed that its deposits had reached the climax of Rs. 40 crores. Though, however, in the last 15-20 days the depositors worth Rs. 10 to 12 crores had withdrawn their deposits on account of scam news in the co-operative banking sector. The alleged scam was in respect of a broker Home Trade Limited, through which a number of Co-operative Banks including