ROHIT RANJAN AGARWAL,J. - (1.) Heard Sri H.R. Misra, learned Senior Counsel assisted by Sri K.M. Misra, learned counsel for the petitioner and learned Standing Counsel for the respondent nos. 1 to 5.
(2.) This writ petition has been filed assailing the order dated 29.08.2018 passed by the respondent no. 5 directing inquiry under Section 65 of the U.P. Cooperative Societies Act, 1965 (hereinafter referred to as the ''Act'). Facts, in brief, as narrated in the writ petition, are that there is one Brahmawarta Commercial Cooperative Bank Limited (hereinafter referred to as the ''bank') having its Head Office at 90, M.I.G. Ratan Lal Nagar, Kanpur Nagar. The aforesaid bank has been registered under the provisions of the Act and was granted banking license by the Reserve Bank of India under the provisions of Banking Regulations Act, 1949. The bank in question is a Primary Urban Cooperative Bank having been insured under the provisions of the Deposit Insurance Corporation Act, 1961.
(3.) According to the petitioner there are forty thousand individuals as members of the bank. By order dated 26.06.2018, relying upon the inspection report dated 31.03.2014, the Reserve Bank of India cancelled the license of the bank in question. On 26.06.2018, the Executive Director of the Reserve Bank of India by exercising powers under Section 22 read with Section 56 of the Banking Regulations Act, required the Registrar of Cooperative Societies U.P. to wind up the affairs of the bank in terms of Section 90-B (II) of the Act read with Section 13-D of the Deposit Insurance and Credit Guarantee Corporation Act, 1961 and further appoint a Liquidator. Simultaneously, the General Manager of the Reserve Bank of India referring to the letter of the Executive Director on 28.06.2018 directed the respondent no. 2 to appoint Official Liquidator in the bank under Section 90-B (II) of the Act. Against the orders of the Executive Director of the Reserve Bank of India, the bank preferred statutory appeal before the Central Government under Section 22 (5) of the Banking Regulations Act. On 03.07.2018 the respondent no. 3 directed the respondent no. 4 to ensure immediate action in regard to appointment of Official Liquidator in the bank in question. Pursuant thereto one Rakesh Kumar, A.D.C.O. Kanpur Nagar, was appointed as the Official Liquidator of the bank. It appears that the Official Liquidator, so appointed, proceeded to issue an office memorandum dated 10.07.2018, which was challenged before this Court in Writ Petition No. 17873 of 2018. On 27.09.2018. A co-ordinate Bench of this Court quashed the order dated 10.07.2018 passed by the Official Liquidator and held that the employees would be deemed to be continuing in service without any break with all consequential benefits. Thereafter, the respondent no. 2 on 17.10.2018 appointed one Raj Kumar Mishra, Regional Assistant Commissioner/Assistant Registrar, Cooperative, U.P. Kanpur Region, Kanpur as Official Liquidator.;