JUDGMENT - S.A. BOBDE, J.:—This petition is directed against the order dated 15th June, 2001, passed by the Minister of State for Co-operation, under section 154 of the Maharashtra Co-operative Societies Act, 1960 (hereinafter referred to as 'the Act').

2. The predecessors of Khamgaon Urban Co-operative Bank (hereinafter referred to as petitioner/bank) gave a loan to Ajintha Sahakari Ginning Pressing Factory Ltd., Buldana/respondent No. 2-society. The respondent No. 2-society, failed to repay the loan amount. Thereafter the predecessors of the petitioner-bank demanded repayment of the loan from the respondent No. 2-society. On 5-11-1987, the respondent No. 2-society requested the predecessors of the petitioner-bank for sympathetic consideration, i.e. grant of further time to repay the loan outstanding amount of Rs. 14,31,672.08. After about a year the petitioner-bank initiated proceedings for recovery of the loan amount under section 101 of the Act before the Assistant Registrar, Co-operative Societies, Buldana. In response to the notice issued by the Assistant Registrar, Co-operative Societies, Buldana, dated 21-11-1988, the respondent No. 2-society, by its communication dated

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