Sanjay Kishan Kaul, J.

1. The petitioner is a house building society and was registered with the Registrar, Co-operative Societies, Delhi (hereinafter referred to as, ‘the RCS’)/respondent No. 1 herein, under the provisions of the Bombay Co-operative Societies Act, 1925 (hereinafter referred to as, ‘the BCS Act of 1925’) as extended to Delhi. On enactment of the Delhi Co-operative Societies Act, 1972 (hereinafter referred to as, ‘the DCS Act of 1972’), the provisions of the DCS Act of 1972 and the Rules framed thereunder came to govern the field. This Act was also repealed by The Delhi Co-operative Societies Act, 2003 (hereinafter referred to as, ‘the said Act’) as amended by The Delhi Co-operative Societies (Amendment) Act, 2006 (hereinafter referred to as, ‘the Amending Act of 2006), which now governs the field along with The Delhi Co-operative Societies Rules, 2007 (hereinafter referred to as, ‘the said Rules) framed thereunder.

2. The Bye-Laws of the petitioner society state the objects of the society with the main object being to acquire land either through outright purchase or on lease for construction of houses for giving to its members either on rent or on hire purc