Sudhir Ranjan Roy, J. - (1.) The respondent No. 1, the Midnapore Co-operative Land Development Bank Ltd. (in short, the respondent Bank) is a Bank in the Co-operative Sector constituted by and/or under the West Bengal Co-operative Societies Act, 1973 and/or Rules framed thereunder known as West Bengal Co-operative Societies Rules, 1974.
(2.) The said Bank formerly used to be managed by its Chairman and the Board of Directors, but for the past several years it is being managed by an Executive. Officer, appointed by the respondent No 2, the Registrar of Co operative Societies. West Bengal and the Board of Directors of the said Bank has since been superseded.
(3.) The respondent Bank inter alia advances long term loans to its members upon mortgage or creation of charge on immovable properties under several and different schemes envisaged by the said Bank, that is, rearing of piggery, sinking of shallow tubewell with pumps for irrigation of agricultural land, for establishment of small village based Cottage Industries etc.;