Allowed

Poovarany Service Co-Operative Bank Ltd. v. Kerala State Co-Operative Rubber Marketing Federation Ltd.

Kerala HC3 Jan 2018WP(C)/15454/2013

Case brief

AI extract

What is this about?

Petitioner Co-operative Bank filed writ petition for repayment of fixed deposit amounts and interest against respondent Bank. Court allowed claim for renewed deposits, directing repayment within seven months with interest.

What did the court decide?

Direction to respondents 1 and 2 to repay amounts under renewed fixed deposit receipts with interest at agreed rate within seven months.

Poovarany Service Co-Operative Bank Ltd. Vs… — Contract and Commercial Disputes | Kerala HC (2018)

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IN THE HIGH COURT OF KERALA AT ERNAKULAM

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PRESENT:

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THE HONOURABLE MR. JUSTICE ANIL K.NARENDRAN

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WEDNESDAY, THE 3RD DAY OF JANUARY 2018 / 13TH POUSHA, 1939

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WP(C).No. 15454 of 2013

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PETITIONER:

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POOVARANY SERVICE CO-OPERATIVE BANK LTD.NO.2882, POOVARANY P.O., KOTTAYAM, REPRESENTED BY ITS SECRETARY.

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BY ADV.SRI.BECHU KURIAN THOMAS

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RESPONDENT(S):

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1. KERALA STATE CO-OPERATIVE RUBBER MARKETING FEDERATION LTD.,KOCHI-682 020, REPRESENTED BY MANAGING DIRECTOR.

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2. FINANCE MANAGER,

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KERALA STATE CO-OPERATIVE RUBBER MARKETING FEDERATION LTD., GANDHI NAGAR, KOCHI-682 020.

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3. REGISTRAR OF CO-OPERATIVE SOCIETIES,

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THIRUVANANTHAPURAM-695 001.

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R1 & R2 BY SRI.K.RAMAKUMAR,SENIOR ADVOCATE ADVS.SRI.S.M.PRASANTH SMT.SMITHA GEORGE R3 BY GOVERNMENT PLEADER SMT.MABLE C.KURIAN

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THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 03-01-2018,THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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sts

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WP(C).No. 15454 of 2013 (F)

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APPENDIX

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PETITIONER(S)' EXHIBITS

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EXHIBIT-P1: TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 20.4.2009 NO.FD/6412 FOR RS.200000/-.
EXHIBIT-P1(A):TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 20.4.2009 NO.FD/6369 FOR RS.63000/-.
EXHIBIT-P1(B):TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 20.4.2011 NO.FD/7657 FOR RS.31,560/-.
EXHIBIT-P1(C):TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 20.4.2011 NO.FD/7694 FOR RS.3787/-.
EXHIBIT-P1(D):TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 25.04.2011 NO.FD/7725 FOR RS.35,032/-.
EXHIBIT-P1(E): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 25.4.2009 NO.FD/6415 FOR RS.200000/-.
EXHIBIT-P1(F):TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 25.4.2009 NO.FD/6419 FOR RS.63000/-.
EXHIBIT-P1(G): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 24.5.2009 NO.FD/6459 FOR RS.6,60,000/-.
EXHIBIT-P1(H): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 25.04.2011 NO.FD/7664 FOR RS.31,560/-.
EXHIBIT-P1(I): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 24.05.2011 NO.FD/7754 FOR RS.79,200/-.
EXHIBIT-P1(J): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 24.05.2011 NO.FD/7657 FOR RS.87,912/-.
EXHIBIT-P1(K): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 02.01.2013 NO.FD/8305 FOR RS.3,15,600/-.
EXHIBIT-P1(L): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 02.01.2010 NO.FD/6925 FOR RS.26,30,000/-.
EXHIBIT-P1(M): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 19.02.2012 NO.FD/8336 FOR RS.16,20,212/-.
EXHIBIT-P1(N): TRUE COPY OF THE FIXED DEPOSIT RECEIPT DTD 20.04.2010 NO.FD/7085 FOR RS.31,560/-.
EXHIBIT-P2: TRUE COPY OF THE COVERING LETTER 18.8.2012 ALONG WITH FIXED DEPOSIT RECEIPT DTD 20.4.2012 NO.FD/8469 RENEWING EXT.P1.

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2/-

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-2-

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WP(C).No. 15454 of 2013 (F)

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EXHIBIT-P2(A): TRUE COPY OF THE COVERING LETTER DTD 18.8.2012 ALONG WITH FIXED DEPOSIT RECEIPT DTD 20.4.2012 NO.FD/8470 RENEWING EXT.P1(B).
EXHIBIT-P2(B): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 20.4.2012 NO.FD/8471 RENEWING EXT.P1(C).
EXHIBIT-P2(C): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 25.4.2012 NO.FD/8486 RENEWING EXT.P1(D).
EXHIBIT-P2(D): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 25.4.2012 NO.FD/8480 RENEWING EXT.P1(E).
EXHIBIT-P2(E): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 25.4.2012 NO.FD/8484 RENEWING EXT.P1(F).
EXHIBIT-P2(F): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 24.05.2012 NO.FD/8586 RENEWING EXT.P1(G).
EXHIBIT-P2(G): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 25.4.2012 NO.FD/8485 RENEWING EXT.P1(H).
EXHIBIT-P2(H): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 24.05.2012 NO.FD/8587 RENEWING EXT.P1(I).
EXHIBIT-P2(I): TRUE COPY OF THE COVERING LETTER ALONG WITH FIXED DEPOSIT RECEIPT DTD 20.04.2012 RENEWING EXT.P1(N).
EXHIBIT-P3: TRUE COPY OF THE DECISION DTD 22.02.2013 AS TAKEN BY THE MANAGING COMMITTEE OF THE PETITIONER.
EXHIBIT-P4: TRUE COPY OF THE LETTER DATED 04.03.2013 NO.358 ISSUED BY PETITIONER TO 1ST RESPONDENT.
EXHIBIT-P5: TRUE COPY OF THE JUDGMENT DATED 29.06.2009 IN WP(C) 5333/2009.

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RESPONDENT'S EXHIBITS:

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EXHIBIT R1(A): TRUE COPY OF LETTER NO.FD/955/11-12 DATED 2/12/2011 SENT BY R1 TO THE PETITIONER.

/TRUE COPY/

P.A.TO JUDGE

sts

ANIL K.NARENDRAN, J.

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W.P.(C).No.15454 of 2013

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Dated this the 3^rd day of January, 2018

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J U D G M E N T

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The petitioner, which is a Co-operative Society registered under the provisions of the Kerala Co-operative Societies Act, 1969, has filed this writ petition under Article 226 of the Constitution of India, seeking a writ of mandamus commanding respondents 1 and 2 to repay the amount due under Exts.P1 to P1(n) fixed deposit receipts, as renewed by Ext.P2 to Ext.P2(i), together with interest at the rate of 12% per annum till the date of repayment, within a time limit to be fixed by this Court. The petitioner has also sought for other consequential reliefs.

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Heard the learned counsel for the petitioner, the learned counsel for the Kerala State Co-operative Rubber Marketing Federation Ltd. representing respondents 1 and 2 and also the learned Government Pleader appearing for the 3^rd respondent.

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During the course of arguments, it is submitted by the learned counsel for the petitioner that the fixed deposit receipts namely Exts.P2 to P2(i) were subsequently renewed by the 1^st respondent Bank.

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In the counter affidavit filed by the 1^st respondent Bank, the fact of borrowal of the amount covered by Exts.P1 to P1(n) fixed deposits stands admitted. In such circumstances, the 1^st respondent cannot now raise a contention that in order to get back the amount

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W.P.(C).No.15454 of 2013

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covered by the said fixed deposits, the petitioner has to avail the statutory remedy provided under Section 69 of the Kerala Cooperative Societies Act.

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The learned counsel for the petitioner would place reliance on Ext.P5 judgment of this Court dated 29.06.2009 in W.P. (C).No.5333 of 2009. That was a case in which the petitioner had approached this Court seeking return of a sum of 10 lakhs₹ deposited with the 1^st respondent Bank. By the said judgment, that writ petition was disposed of by directing the 1^st respondent Bank to repay the amount due to the petitioner under that fixed deposit receipt together with interest, within a period of four weeks from the date of production of a copy of that judgment.

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During the course of arguments, it is submitted by the learned counsel for the 1^st respondent that in terms of the direction contained in Ext.P5 judgment, the fixed deposit amount of 10 lakhs₹ together with interest has already been repaid to the petitioner. The learned counsel for the 1^st respondent Bank would also submit that if this Court orders refund of the fixed deposits, the Bank may be granted 9 months time for repayment.

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The learned counsel for the petitioner would submit that the petitioner has no objection in this Court granting a reasonable time to the 1^st respondent Bank for repayment of the fixed deposits.

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W.P.(C).No.15454 of 2013

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In such circumstances, this writ petition is disposed of by directing respondents 1 and 2 to repay the amount covered by Exts.P2 to P2(i) fixed deposit receipts, which are renewed from time to time, together with interest at the agreed rate, as expeditiously as possible, at any rate, within a period of seven months from the date of production of a certified copy of this judgment.

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Sd/- ANIL K.NARENDRAN JUDGE

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Poovarany Service Co-Operative Bank Ltd. v. Kerala State Co-Operative Rubber Marketing Federation Ltd.

Case brief

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Poovarany Service Co-Operative Bank Ltd. v. Kerala State Co-Operative Rubber Marketing Federation Ltd.

Case brief

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