CHAGLA, C.J.:- This is an application against an order of the Bombay Co-operative Tribunal. The petitioner is the Malvan Co-operative Urban Bank Ltd., situated at Malvan, and it appears that the President of the bank discovered that a sum of Rs.50,000 was shown in the books of account of the bank as having been advanced to opponent No.1 on 6-5-1948. This amount was shown credited on 30-6-1948, although in fact that amount had not been repaid.

The case of the bank further was that this transaction was effected in collusion with the manager and the accountant of the bank. The bank made an application for payment of this amount against opponent No.1 and the manager and the accountant, and the matter was referred to arbitration under the Bombay Co-operative Societies Act and the arbitrators held that opponent No.1 and the manager and the accountant were liable to pay to the bank the sum of Rs.50,000 with interest. Against this award opponent No.1 went in revision to the Co-operative Tribunal and the Tribunal set aside that award, and it is against that decision that this application is preferred.

2. The view taken by the Tribunal was that the decision of the arbitrators was cove