JUDGMENT

1. The Petitioner is registered partnership firm and is in the business of construction and real estate development. The Petitioner by the present Writ Petition is seeking following reliefs:- Proceedings bearing Upset Price Fixation Application No.5/2021 be declared as illegal. The act of the Respondent No.3 in proceeding to auction/sale the Petitioners immovable property without complying with the provisions of Rule 107 (11) (d-1) of the Maharashtra Cooperative Societies Rules, 1961 (hereinafter referred to as the said Rules) is bad in law and liable to be set aside. Order dtd. 31/3/2022 passed in Upset Price Fixation Proceeding No.5-21/2022 be quashed and set aside. The auction notices dtd. 16/4/2022 and 3/5/2022 be quashed and set aside.

2. The factual position necessary for the determination of the dispute between the parties is set out hereinbelow:-

(i) The Petitioner had availed loan amounting to Rs.1.00 Crore from the Respondent No.3-NDVS Bank Ltd., Nashik Road in the year 2014. For securing the said loan Petitioner has mortgaged certain properties. The Petitioner failed to pay due installments.

(ii) On 20/8/2018, Respondent No.3-bank filed recovery application under