1. The petitioners have challenged notification dated 28.1.2003 published in the Gazette of India (Extraordinary) Part II Section 3(ii) dated 28.1.2003 issued by Central Government. The Notification is reproduced as under:

Ministry of Finance and Company Affairs (Department of Economic Affairs) Notification No. S.O. 105(E) dated the 28th January, 2003. Published in the Gazette of India (Extraordinary) Part II Section 3(ii) dated 28.1.2003 Page 1.

In exercise of the powers conferred under Item (v) of Clause (c) of Sub-section (1) of Section 2 of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002), the Central Government hereby specifies: 'Co-operative Bank' as defined in Clause (cci) of Section 5 of Banking Regulation Act, 1949 (10 of 1949) as 'Bank' for the purpose of the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (54 of 2002).

As a common question is involved in all the above four petitions, all are being decided by this order. We have taken facts from W.P. 9106 of 2006 for the convenience.

2. The case of the petitioner is that a Co-operative Bank is a Co-