( 1 ) AS common question of law and facts arise in this group of petitions and they are interconnected, the same are being disposed of by this common judgment and order.

( 2 ) A short but an interesting question of law arises in this group of petitions whether a Cooperative Bank is bound to give the benefit of One Time Settlement Scheme (ots Scheme) floated by the Reserve Bank of India (RBI) and/or bound by any direction issued by the Registrar, cooperative Societies, State of Gujarat, directing the cooperative Bank to give benefit of OTS Scheme to judgment debtor and/or to a person who has taken loan and/or financial assistance from a Cooperative Bank and there are dues of the Cooperative Bank, irrespective of the fact whether such a Cooperative Bank is in a position to recover the amount due to it from the said persons and/or out of securities or from guarantors and/or out of property of such guarantors, and/or whether it is mandatory for such Cooperative Bank to grant benefit of ots Scheme irrespective of the fact whether such cooperative Bank is in a position to recover the entire amount from the property of the customer/loanee who has taken a loan and/or from his guarantor.

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