Dama Seshadri Naidu, J.

Facts:

The petitioners, being the members of the fifth respondent Bank, were elected on 05.09.2012 as the Directors of the Board; in other words, as the members of the managing committee. The fifth respondent Bank, with a membership of 4500, has eleven members in the managing committee, including the petitioners, the first and second petitioners being the lady members.

2. In the course of time, five out of eleven members of the managing committee submitted Exhibit P1 complaint before the third respondent. They ventilated the grievance that the Secretary of the fifth respondent Bank had been functioning autocratically, by denying them access to the records, apart from compelling them to sign the minutes book and other registers in blank. At a later point of time, having come to know that the Secretary had been secretly negotiating to purchase certain immovable property for the Bank at an exorbitant rate, the petitioners sought details from the Secretary of the proposed transaction. When no information was forthcoming, the petitioners, once again, submitted another representation, Exhibit P2, to the third respondent.

3. Acting on the complaint of the petit