Ambajogai Peoples Co-Operative Bank Ltd v. The Reserve Bank Of India And Others

wp8182.13.doc

IN THE HIGH COURT OF JUDICATURE AT BOMBAY,

BENCH AT AURANGABAD WRIT PETITION NO. 8182 OF 2013 Ambajogai Peoples Co-operative Bank Ltd.

.. PETITIONER

VERSUS

The Reserve Bank of India & others .. RESPONDENTS Mr. T.G. Gaikwad, advocate for petitioner.

Mr. S.S. Deve, advocate for respondents 3 and 4. ===== CORAM : R.M. BORDE & V. K. JADHAV JJ.

DATE : 29th APRIL, 2015.

PER COURT :

1.

The matter relates to commercial transactions between petitioner and respondent no. 5. A direction is sought against respondent no. 4 - bank with whom the amount is deposited by respondent no. 5 in fixed deposit. It is stated that direction has already been issued by the recovery officer in exercise of powers under Maharashtra Co-operative Societies Act to keep the amount in fixed deposit held by respondent no. 4 bank as security. 2.

In the context and in order to facilitate recovery of amount by petitioner bank, it would be open for the petitioner herein to avail of remedies available in law. In view of availability of alternate remedy for redressal of grievance, instant petition does not deserve favourable consideration. Keeping the option to avail of alternate remedy open for

wp8182.13.doc petitioner bank, writ petition stands disposed of. ( V.K. JADHAV ) ( R. M. BORDE ) JUDGE JUDGE dyb