1. Counsel for the parties are in agreement that four writ petitions bearing civil Writ Petition Nos.21328, 21556, 21572 and 21330 of 2008 can be decided by one common order, as on facts and law these writ petitions are similar, except that respondent no.2 in all the four writ petitions is different.

2. In these writ petitions, petitioner-Bank has approached for setting aside impugned order dated 5.2.2008, Annexure-P5 passed by the Deputy Registrar, Co-operative Societies, Jalandhar. Before the controversy is determined, it is essential to advert to the facts of the case.

3. Counsel for the parties are further in agreement that for adjudication of these writ petitions, facts can be gathered from Civil writ Petition No.21328 of 2008. Respondent No.2 availed cash credit limit of Rs. one lac in the year 1994 from the petitioner-Bank by way of equitable mortgage. On default committed in re-payment of the loan, loan account of respondent No.2 was declared as non-performing asset. Case of the petitioner-Bank is that under Sec.2 (1) (c) (v) of the securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (hereinafter to be referred as, sa