JUDGMENT

Rohit B. Deo, J. - The petitioner Shikshak Sahakari Bank Limited is a cooperative society duly registered under the Maharashtra Cooperative Societies Act, 1960 ("Act" for short), and shall be hereinafter referred to as "the bank". The bank is assailing the order dated 31.10.2008 rendered by the Divisional Joint Registrar, Cooperative Societies, Nagpur in Revision 576 of 2007. By the order impugned dated 31.10.2008, the said authority dismissed Revision 576 of 2007 which was directed against two orders passed by the Deputy Registrar, Cooperative Society, City1, Nagpur. By the first order dated 18.10.2006, the Deputy Registrar discharged respondents 3 and 4 from the proceedings under Section 101 of the Act. By the second order dated 22.5.2007, the Deputy Registrar restricted the recovery certificate to respondent 2 M/s. Panchasheel Medical Stores Pvt. Ltd (hereinafter referred to as "the borrower") and declined to issue recovery certificate against the discharged guarantors respondents 3 and 4 and respondent 5, who according to the bank, had mortgaged property to secure the dues of the borrower.

2. The prayer clause of the petition reads thus:

"i. by appropriate writ, order o