1. Ext.P7 order passed by the 3rd respondent superseding the Managing Committee of the Urukunnu Service Co-operative Bank Ltd., (for short 'the bank') is under challenge in this writ petition. The 1st petitioner is the Board of Directors of the Bank and 2nd petitioner is the President.

2. The writ petition was originally filed seeking to quash Ext.P4 show cause notice issued under Section 32(1) of the Kerala Co-operative Societies Act (for short 'the Act') directing the 1st petitioner to show cause within 7 days of receipt of the same as to why the Board/Committee in office should not be removed or superseded and for a direction directing the 3rd respondent Joint Registrar to refrain from proceeding against the petitioners under Section 32 of the Act pursuant to Ext.P4 notice. During the pendency of the writ petition, petitioners have appeared for personal hearing before one Ravindran Nair, who was the then Joint Registrar, who issued Ext.P4 dated 15.6.2012. Petitioners have submitted Ext.P5 reply to Ext.P4 show cause notice. Ext.P3 is the copy of the detailed reply dated 16.3.2012 submitted by the Board of Directors. It is pointed out in Exts.P3 and P5 that all the charges levelled against the petitioners are without any factual basis, that the same were unsupported by any materials and that the Joint Registrar has not passed any final order either accepting the report or recorded any finding that there was a major defect in the constitution, working or financial condition of the society. It is submitted that without entering into any such finding, the Joint Registrar initiated proceedings under Section 32 of the Act by issuing Ext.P4 show cause notice and that the Joint Registrar has not entered any satisfaction relating to the factual circumstances under any of the provisions contained in Section 32(1) of the Act either under (a), (b), (c) or (d). In Ext.P5 reply, the petitioners have pointed out that none of the ingredients of Section 32(1) were satisfied, that the entire allegations pertain to the period during which the former Board of Directors of the Bank was in office, there were no alleged major defects either in the report or in the show cause notice and that the present Board have acted promptly and legally. The petitioners were heard on 15.6.2012. It is averred in the writ petition that Sri.Ravindran Nair himself got convinced about the illegality in the matter and dropped the proceedings against the Board of Directors in the matter. It is also stated that with an vindictive attitude, the ruling political forces in the locality have interfered in the most malafide and arbitrary manner and transferred Sri.Ravindran Nair from the post of Joint Registrar(General), Kollam, to the post of Joint Registrar (Audit), Kollam in the very same premises and thereafter, Sri.Madhusudanan Pillai who was serving as Deputy Registrar in the office of the Joint Registrar, Kollam, has been posted as Joint Registrar, Kollam. It is also alleged that in order to please his political masters, Sri.Madhusudanan Pillai has issued another show cause notice under Section 32(1) of the Act. Ext.P6 is the copy of the said notice. The petitioners filed I.A.No.9671/2012 for amendment of the writ petition. After amendment of the writ petition seeking to quash Ext.P6 show cause notice, the aforesaid Madhusudanan Pillai passed an order dated 23.7.2012 superseding the Board of Directors and appointing part time Administrator for a period of six months. Copy of the order is marked as Ext.P7. In such situation, petitioners filed I.A.No.10940/2012 for amendment seeking to quash Ext.P7 order.

3. Urukunnu Service Co-operative Bank is a Primary Co-operative Agricultural Credit Bank registered under the provisions of the Act and the Rules made thereunder. The 1st petitioner Board of Directors were elected in the election conducted on 31.1.2010 and took charge of office on 2.2.2010. The facts of the case in brief are as follows:

The Joint Registrar of