A. D. DESAI, D. P. DESAI, J.

( 1 ) THE petitioner is a purchaser of a cutting machine from respondent No. 2 who had secured a loan from respondent No. 1 Co-operative Bank for purchasing the said machine and had created a charge on that machine in favour of respondent No. 1 Bank. As a result of this transaction of loan by respondent No. 2 with respondent No. 1 Bank of which respondent No. 2 was at the relevant time a member arbitration proceedings under the provisions of the Gujarat Co-operative Societies Act 1961 (hereinafter referred to as the Act) came to be instituted by respondent No. 1 Bank against the present petitioner respondent No. 2 and another person who was the surety of respondent No. 2. Those proceedings came to be started by respondent No. 1 Bank for the recovery of its dues advanced to respondent No. 2. The total amount of the dues including interest notice charges and liquidation charges for which the claim was made under the provisions of the Act was Rs. 2 155 Ps. In these proceedings the petitioner was impleaded as a party because he claimed his right or title to the machine hypothecated with respondent No. 1 Bank through respondent No. 2. It was alleged that the

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