1. Called out from the final hearing board. Heard finally, by consent of the parties.

2. The Petitioner-Society has challenged orders dated 15 December 2009 passed by Respondent No.1-the Divisional Joint Registrar, Co-operative Societies, Mumbai whereby, their Revision Application under Section 154 of the Maharashtra Co-operative Societies Act, 1960 (for short, “the MCS Act”) was dismissed and thereby, order dated 13 April 2009 passed by the Deputy Registrar of Co-operative Societies, H-West Ward, Mumbai under Section 23(2) of the MCS Act, is confirmed.

3. The Petitioner-Society is a Tenant Co-operative Society, as contemplated under Rule 10 of the Maharashtra Co-operative Societies Rules, 1961 (for short, “the MCS Rules”). Respondent No.5 applied for the transfer of suit shares and suit flat from the name of Respondent Nos. 3 and 4-the members of the Petitioner Society on 24 January 2004. Respondent No.3 was the Director of Respondent No.5 and also the Secretary of Petitioner Society. The Society declined to the said transfer for want of sufficient stamp and registration. The Society never accepted the payment on behalf of Respondent No.5, and even through Respondent Nos