Ravindra R. Koregaonkar v. Matrubhumi Co. Op. Credit Soc. Ltd. and Ors.
Case brief
What is this about?
WRIT PETITION NO. 2063 OF 2026, High Court of Judicature at Bombay, decided 12th February, 2026 (Coram: A.S. Gadkari and R.M. Joshi, JJ.). Petitioner Ravindra R. Koregaonkar v. Matrubhumi Co-Op. Credit Soc. Ltd. & Ors. Recovery proceedings based on a Competent Authority certificate under Section 101 of the Co-operative Societies Act; outstanding Rs.1.15 crores as on 31 January 2026, with Rs.30 lacs deposited; sale under Rule 107 of the Co-operative Societies Rules withheld and possession to be restored upon clearance of the entire outstanding by 31 March 2026; matter stood over to 20 February 2026 under “for directions”. Advocates: Harshad Sathe with Pradhuman Chauhan (Petitioner); B.G. Saraf (Respondent Nos. 1 and 2).
What did the court decide?
Interim arrangement recorded and accepted by the Court: Respondent No.2 to take physical possession of the suit property but not to proceed to sale as contemplated under Rule 107 of the Co-operative Societies Rules; physical possession to be returned/handed over to the Petitioner in the first week of April, 2026 if the entire outstanding amount is cleared on or before 31st March, 2026; matter stood over to 20th February, 2026 under the caption “for directions”.