Arun B. Khanjire vs The Ichalkaranji Urban Coop. Bank & Ors

The Supreme Court addressed the interpretation of Section 154(2A) of the Maharashtra Co-operative Societies Act, 1960, determining that the revisional powers of the Divisional Joint Registrar could be exercised suo motu and were not contingent upon a formal application. The Court held that the High Court's conclusion regarding the maintainability of the revision was erroneous, thereby allowing the Special Leave Petition and setting aside the High Court's order. The outcome reinstated the order of the Divisional Joint Registrar that had set aside the Recovery Certificates issued by the Bank.