Altamas Kabir, J.

The two Revisional Applications, being C.O. Nos. 4 and 5 of 2001, which were being heard by the learned Single Judge in his revisional jurisdiction, were referred to the Division Bench for the purpose of deciding the question posed by the learned Judge as to whether the West Bengal Co-operative Societies Act, 1983, can condone the delay in preferring an appeal if presented beyond the period of limitation as prescribed under the Act. Since the very same question was also involved in C.O. No. 971 of 2000, the same was also referred to this Bench for hearing along with C.O. Nos. 4 and 5 of 2001.

2. The facts pertaining to C.O. Nos. 4 and 5 of 2001 briefly stated are that the Opposite Party No.1, Vidyasagar Central Co-operative Bank Ltd., gave a loan to the petitioners for business purposes and since the petitioners failed to pay the bank dues, the Opposite Party No.1 filed a Dispute Case before the learned Arbitrator under the provisions of the West Bengal Co-operative Societies Act, 1983, hereinafter referred to as the "said Act". The learned Arbitrator passed an award on 21st September, 1999, with a direction upon the petitioner to pay the principal amount a