JUDGMENT

Vipin Sanghi, J. (Oral)--We have heard Mr. Rakesh Kumar Khanna, learned senior counsel for the petitioners as well as Mr. Gopal Jain, learned senior counsel for respondent no. 2/Reserve Bank of India ("RBI") and the learned counsel for respondent nos. 3 & 4 i.e., The Vaish Cooperative Commercial Bank Ltd and The Panipat Urban Cooperative Bank Ltd., respectively, and proceed to dispose of the present petition and pending applications.

2. The present writ petition has been preferred by the Delhi Urban Cooperative Bank Federation, claiming to be a federation of co-operative banks in Delhi, registered under the Delhi Co-operative Societies Act, 2003 (`the Act' for short). The name and address of petitioner No.1 reads as follows:

"Delhi Urban Cooperative Banks Federation,

C/o Janata Cooperative Bank Ltd.,

32, Netaji Subhash Marg,

Darya Ganj,

New Delhi-110 002

Through its General Secretary."

3. When the writ petition was initially filed, two individuals namely Shri Pradeep Kumar and Shri Satya Dev, were also impleaded as petitioners. However, during the pendency of the writ petition, these petitioners - being petitioner nos. 2 & 3, chose to withdraw their names from the writ p