JUDGMENT - F.I. REBELLO, J.:---Rule. Respondents waive service. Heard forthwith.

2. The petitioners by the present petition are impugning the order dated 11-2-2002. Respondent No. 5 has issued the order under section 110-A of the Maharashtra Co-operative Societies Act, 1960 superseding the Board of Directors of respondent No. 7 and appointing Administrator. At the hearing of the petition, on behalf of the petitioners, it is contended that the order of respondent No. 5 is contrary to the principles of natural justice and fair-play. It is submitted that respondent No. 5 has acted on the directions issued by the Reserve Bank of India based on a report prepared while carrying out inspection. Inspection can be carried out under section 35 of the Banking Regulation Act, 1949. Pursuant to such inspection, a report was prepared. It is contended that the said report was not made available to the Board of Directors of respondent No. 7 before the impugned order was issued. In these circumstances, it is contended that respondent No. 5 was duty bound to make available the report or, at least, the Reserve Bank of India respondent No. 3, before issuing directions, ought to have made available the

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