( 1 ) BY this petition under Article 227 of the Constitution of india, the petitioner-Zila Sahakari Kendriya Bank Maryadit Shahdol seeks to challenge the correctness, validity and propriety of the order dated 14. 8. 1997 passed in Revision Case No. 125-Toan/97 which arose from the order dated 22. 4. 1997 passed in Case No. Credit/97/770 by the Joint Registrar, Co-operative societies, Rewa.

( 2 ) BRIEF facts for disposal of the petition are that on 22. 4. 1997, the Joint registrar Co-operative Societies sent a letter to the petitioners craving indulgence to the fact that Vipnan Sahkari Sanstha Maryadit Shahdol was defaulter to the medium term godown loan principal amount being Rs. 82,673. 45p. and interest thereon as on 1. 1. 1997 being Rs. 92,510. 15p. and as the amount was over due for more than 12 months, the representative of the said Vipnan sahkari Sanstha could not hold the office of a Director for the petitioner, therefore, action under Section 19-AA of the Madhya Pradesh Co-operative societies Act, 1960 (hereinafter referred to as the Act) be taken against them. On 26. 4. 1997 vide letter No. Adhyaksh/97-98/399, the President of the petitioner-Society asked the