By the Court.—Heard Shri Vipin Sinha, learned Counsel for the petitioners and Shri M.K. Gupta for the respondent No. 1 Co-operative Society. Learned Standing Counsel appears for respondent No. 3. With the consent of the parties, this writ petition is being finally decided at the admission stage.

2. The petitioner has prayed for setting aside the order passed by the Joint Registrar, Cooperative Societies, U.P., Agra Division, Agra dated March 3rd, 2008 made under Section 40 (3) of the U.P. Cooperative Societies Act, 1965 directing that the amount of Rs. 2,04,065/- (Rupees two lacs four thousand sixty five only) be recovered from Shri Kanhaiya Lal Agarwal-petitioner No. 2, the then Branch Manager of the State Bank of India, Industrial Estate Branch, Nunhai, Agra.

3. Brief facts giving rise to this writ petition are that one Shri Ashok Kumar-respondent No. 2, an employee of the bank and a member of the Indian Bank Employees (Salary Earners) Cooperative Credit and Thrift Society Ltd., Agra, the earlier society, and a member of Agra Vanijiyik Bank Karamchari (Vetan Bhogi) Sahkari Rin Evam Sakh Samiti Ltd. took a loan from the Cooperative Society to be repaid by him in installments