P.R.BORKAR,J. :

1. The petitioner which is a debtor of respondent nos. 4 Peoples Co-operative Bank Limited, has filed this petition for declaration that the Government Circular bearing No. Bank/Recovery/Suits/t-3/2000 dated 8.1.2001 and No. Admn/2A/M.S.A./2002/Suit/2002 dated 16.1.2003 be quashed and set aside as ultra vires, and also for direction to quash and set aside the recovery certificate issued by respondent no. 3 on 28.10.2002 in Application No. 200/2002. Civil Application No. 7918 of 2003 is filed by respondent no. 6, which has purchased secured assets pending this petition, for refund of purchase money.

2. Admittedly the petitioner is a partnership firm which had started Adarsh Ginning and Pressing factory at Pimpalgaon-Divshi, Taluka Gangapur, District Aurangabad. Respondent no. 4 Peoples Cooperative Bank Limited Hingoli is a Multi State Cooperative Bank (hereinafter referred to as ’the Bank’). The Bank was initially registered under the provisions of the Maharashtra Cooperative Societies Act, 1960. However, on 9.12.1999 by registration No. MSCS/CR/98/99 it was registered as a Multi State Cooperative Bank.

3. The petitioner had appl