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(c) Writ Petition No. 4115 of 2002 impugns an order dated 13-11-2002 passed by the District Deputy Registrar, Chandrapur, directing the winding up of the Chandrapur District Agriculture and Rural Development Multi-Purpose Cooperative Bank. The grounds given for passing of the order were that there was no disbursement of loan or commission of any act in accordance with the objectives of the bank contained in its bye-law No. 4(1) to 4(29). That as per the balance sheet dated 31-3-2002, the assets of the bank were 7.84 crores and the accumulated losses were 9.31 crores rendering the value of the share as "zero". That the establishment costs were being paid from recoveries thereby adding to accumulated losses. That 68% of the members were in default and that there was only 11% recovery which indicated that there was no likelihood of clearance of overdues. The order stated that it was being passed under Section 102(1)(c) of the Act.