S.B. SHUKRE, J.

1. By this writ petition, the petitioner has challenged the judgment and order dated 12.3.2012 passed in Revision Application No.434/2006 by the Divisional Joint Registrar, Cooperative Societies Mumbai Division, Mumbai thereby refusing to set aside the sale of the property mortgaged by the petitioner to respondent no.1Bank as a security for repayment of the loan amount borrowed by the petitioner's concern M/s. Mohan Printery, Mumbai.

2. The petitioner had obtained a loan of approximately Rs.22,00,000/- from respondent no.1 and as a security for repayment of the loan amount, the petitioner had mortgaged in favour of respondent no.1 his immovable property, situated at Unit No.105, 106 and 107 in Udyog Mandir No.1, Bhagoji Keer Marg, Mahim, Mumbai. The petitioner defaulted in making repayment of the loan amount and, therefore, dispute arose between the petitioner and respondent no.1 regarding recovery of loan amount. The dispute went before a Cooperative Court, Mumbai and an Award under Section 91 of the Maharashtra Cooperative Societies Act, 1960 was passed by consent of the parties. As per the Award, the petitioner was to make the payment to respondent no.1