Mullakodi Co-Operative Rural Bank Limited v. The State Of Kerala
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT:
THE HONOURABLE MR.JUSTICE V.CHITAMBARESH MONDAY, THE 2ND DAY OF MARCH 2015/11TH PHALGUNA, 1936 WP(C).No. 15481 of 2014 (I) ---------------------------- PETITIONER:
------------------- THE MULLAKODI CO-OPERATIVE RURAL BANK LIMITED NO.F-1230, P.O.KOLACHERRY, KANNUR DISTRICT, PIN: 670 601, REPRESENTED BY ITS SECRETARY.
BY ADV. SRI.O.D.SIVADAS RESPONDENTS:
------------------------
1. STATE OF KERALA REPRESENTED BY THE SECRETARY TO GOVERNMENT CO-OPERATIVE DEPARTMENT, THIRUVANANTHAPURAM.
2. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM.
3. THE CHAIRMAN, THE KERALA STATE CO-OPERATIVE RUBBER MARKETING FEDERATION LIMITED, P.B. NO.15, GANDHI NAGAR, KOCHI - 682 020.
4. MANAGING DIRECTOR, THE KERALA STATE CO-OPERATIVE RUBBER MARKETING FEDERATION LIMITED, P.B. NO.15, GANDHI NAGAR, KOCHI -682 020.
5. THE KERALA STATE CO-OPERATIVE RUBBER MARKETING FEDERATION LIMITED, P.BO.NO.15, GANDHI NAGAR, KOCHI - 682 202 REPRESENTED BY ITS MANAGING DIRECTOR.
R4&R5 BY ADV. SRI.JAGAN GEORGE R4&R5 BY ADV. SRI.P.JAYABAL MENON BY GOVERNMENT PLEADER SRI. GIKKU JACOB THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 02-03-2015, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
WP(C).No. 15481 of 2014 (I) APPENDIX PETITIONER(S)' EXHIBITS EXT.P1:
TRUE COPY OF CIRCULAR DATED 22/3/1997.
EXT.P2:
TRUE COPY OF THE LETTER DT. 15/4/1997.
EXT.P3:
TRUE COPY OF THE LETTER DT. 07/2/2001.
EXT.P4:
TRUE COPY OF LETTER DATED 22/9/2005.
EXT.P5:
TRUE COPY OF THE LETTER DT. 24/11/2005.
EXT.P6:
TRUE COPY OF THE LETTER DT. 3/12/2013.
EXT.P7:
TRUE COPY OF THE PROCEEDINGS DATED 11/3/14.
RESPONDENT(S)' EXHIBITS EXHIBIT R4(a) TRUE COPY OF THE JUDGMENT IN WA NO. 1202/2007 DATED 24.05.2007. EXHIBIT R4(b) TRUE COPY OF THE JUDGMENT IN WP(C) NO. 4566 OF 2007. EXHIBIT R4(c) TRUE COPY OF THE JUDGMENT IN WA NO. 2759 OF 2007. EXHIBIT R4(d) TRUE COPY OF THE DETAILS OF THE DEPOSIT AMOUNT AND PAYMENT OF INTEREST.
/TRUE COPY/ P.A. TO JUDGE.
V. CHITAMBARESH, J -------------------------------- WP(C) NO. 15481 OF 2014 ------------------------------------ Dated this the 2nd day of March, 2015
JUDGMENT
The petitioner seeks refund of the fixed deposit of the sum of `50 lakhs with interest thereon. It is conceded that a portion of the interest has already been paid by the fifth respondent Federation.
2.
Respondents 3 to 5 are directed to refund the amount due to the petitioner in ten equal monthly instalments starting from 31.03.2015. The petitioner is entitled to initiate proceedings in contempt in case respondents 3 to 5 commit default in the payment of instalments as undertaken. 3.
The above direction will operate as regards the principal amount due since there exists dispute between the parties as regards the rate of interest.
The Writ Petition is disposed of.
V. CHITAMBARESH JUDGE ncd