1. The appeal is directed against the judgement of Learned Single Judge dated 14.7.2009 passed in Special Civil Application No. 7043/2009.

2. The appellants were the original petitioners. In the petition, they had challenged an order dated 19.12.2008 passed by the Registrar of the Cooperative Societies by which the Board of Directors of Alavi Cooperative Bank Limited, Vadodara( the bank for short) were removed and an administrator was appointed for a period of one year in exercise of powers under Section 115A of the Gujarat Co-operative Societies Act, 1961( the Cooperative Societies Act for short). The petitioners had also challenged a subsequent communication dated 6.5.2009 from the Assistant General Manager of the RBI conveying to the petitioners that their request for restoration of the earlier Board of Directors of the bank has been examined but found not acceptable at present.

3. Facts in short are as as follows :

3.1 The appellants-original petitioners were elected as Directors of the bank in the year 2006 for a period of three years. Petitioner no.1 was elected as the Chairman of the bank and petitioner no.2 was elected as the Managing Director.

3.2 The RBI found that in the management of the bank, there were violations of guidelines in security transactions. A letter of displeasure was issued and the Bank was instructed to ensure strict compliance with RBI instructions. RBI upon inspection of the bank further found that certain transactions had been undertaken irregularly. A fine of Rs. 5 lakhs was therefore, levied upon the bank for violation RBI guidelines. Subsequently, also irregular transactions were detected. In the above background, RBI issued a communication dated 28.11.2008 to the Registrar of Cooperative Societies stating that :

"5. In view of the unsatisfactory state of affairs of the bank as reflected above, Reserve Bank of India is of the view that the Board of Directors of the bank may be superseded and an Administrator be appointed for securing its proper management. Accordingly, we forward herewith a requisition UBD.No.CO.NSB-II/RSB-7/ 12.21.07/2)08-09 dated November 26, 2008, for supersession of the Board of Directors of the Alavi Co-operative Bank Ltd., Vadodara."

Along with said communication, RBI also forwarded an order dated 26.11.2008 to the Registrar of Cooperative Societies which reads as follows :

"Reserve Bank of India being satisfied that in the public interest and for preventing the affairs of the bank being conducted in a manner detrimental to the interests of the depositors and for securing the proper management of the bank, it is necessary to supersede the Board of Directors of Alavi Co-operative Bank Ltd., Vadodara and to have an Administrator appointed therefore, hereby requires the Registrar of Cooperative Societies, Gujarat State to make an order for supersession of the Board of Directors of Alavi Co-operative Bank Ltd., Vadodara, and the appointment of an Administrator therefore initially for a period of one year from the date on which the official takes charge as an Administrator, in terms of the provisions of Section 115A(3) of the Gujarat Co-operative Societies Act, 1961."

3.3 Pursuant to the said order dated 26.11.2008, Registrar of the Cooperative Societies issued impugned order dated 19.12.2008 superseding the Board of Directors and appointing an administrator to conduct the affairs of the bank for a period of one year.

3.4 Above-mentioned orders passed by the RBI as well as consequential orders passed by the Registrar of the Cooperative Societies came to be challenged by the petitioners before the Learned Single Judge in Special Civil Application No.342/2009. Petition was disposed of by order dated 19.1.2009. The petitioners withdrew the petition with a view to make representation to the RBI by way of post decisional hearing for revocation of the decision.

3.5 The petitioners made a detailed representation dated 22.1.2009 to RBI and requested that the order of supersession b