JUDGMENT - KOCHAR R.J., J.:---Rule. Rule returnable forthwith. Heard finally by consent of parties.

2. Heard Mr. Madkholkar, learned Counsel, for the appellant and Mr. Gawai, learned Government Pleader, for respondents Nos. 1 to 3.

3. By these letters patent appeals filed under Clause 15 of Letters Patent, the impugned order dated 16-1-2003 passed by the learned Single Judge dismissing the writ petitions filed by the appellants and confirming the order passed by respondent No. 3 directing liquidation of the banks in question by passing interim order under section 102(1)(c)(v) of the Maharashtra Co-operative Societies Act, 1960 (for short, the Act) is under challenge. In all these appeals, common and identical questions of facts and law are involved and, as such, they are heard together and are being disposed of by this common judgments.

4. The facts of the case are as under:

The appellants are the District Level Co-operative Agriculture and Rural Multipurpose Development Bank Ltd. The main aim and object of the said bank is to provide long terms loans to farmers and to adopt and implement farming development policy formulated by the Government. Since long the said bank had been financ

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