Allowed

Purushothama Prabhu v. Pattanakkad Service Co-Operative Bank Ltd. NO.1144

Kerala HC9 Feb 2021WP(C)/341/2021

Case brief

AI extract

What is this about?

In a writ petition under Article 226, the High Court of Kerala directed the co-operative bank society to pay the petitioner's matured fixed deposit amount with interest through 12 equal monthly installments pending institutional verification of accounts.

What did the court decide?

Directed the first and second respondent society to pay the petitioner the due amount with accrued interest through 12 equal monthly installments commencing from April 1, 2021, and to furnish state of

Purushothama Prabhu Vs Pattanakkad Service… — Contract and Commercial Disputes | Kerala HC (2021)

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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 SUNIL THOMAS

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TUESDAY, THE 09TH DAY OF FEBRUARY 2021 / 20TH MAGHA,1942

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WP(C).No.341 OF 2021(P)

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PETITIONER/S:

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PURUSHOTHAMA PRABHU AGED 76 YEARS S/O. RAMA PRABHU, BABU PURAM, PATTANAKKAD, CHERTHALA-688531.

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BY ADVS. SRI.B.PRAMOD SMT.NAMITHA JYOTHISH

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RESPONDENT/S:

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1 PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD NO.1144 PATTANAKKAD P.O., CHERTHALA, REP. BY ITS SECRETARY688531.

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2 THE SECRETARY, PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD. NO.1144, PATTANAKKAD P.O., CHERTHALA, ALAPPUZHA, PIN-688531.

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3 THE ASSISTANT REGISTRAR (GENERAL), OFFICE OF THE CO-OPERATIVE ASST. REGISTRAR (GENERAL), CHERTHALA, PIN-688001.

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R1-2 BY ADV. SRI.T.R.HARIKUMAR R1-2 BY ADV. SRI.ARJUN RAGHAVAN R3-SR.GP K.P HARISH

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THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 09.02.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:

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WP(C).No.341 OF 2021(P)

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JUDGMENT

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The petitioner had deposited an amount of Rs.10,50,000/- (Rupees ten lakhs fifty thousand only) in the first respondent society evidenced by Ext.P1 to P5 receipts. The grievance of the petitioner is that in spite of the maturity of the fixed deposit the amount due has not been paid by the society.

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When the matter was taken up, the learned standing counsel for the first and second respondent - society submitted that the entire amounts due, which comes to a sum of Rs.9.30 lakhs with interest is payable to the petitioner. The counsel submitted that society is ready to pay the entire amount within 12 equal monthly installments.

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Having accepted the above proposal as reasonable in the light of the financial situation of the society, as projected by the learned counsel for the first

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WP(C).No.341 OF 2021(P)

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and second respondents, I am inclined to direct that the above amount, with the accrued interest as submitted by the learned counsel for the first and second respondents, shall be paid in 12 equal monthly installments commencing from April 1, 2021. The first and second respondents shall furnish statement of accounts in relation to the fixed deposit to the petitioner within two weeks from today. It is made clear that in case there is dispute regarding the actual amount due, the remedy of the petitioner is kept open.

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Writ Petition is disposed of.

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Sd/-

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SUNIL THOMAS, JUDGE

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R.AV

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WP(C).No.341 OF 2021(P)

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APPENDIX

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PETITIONER'S/S EXHIBITS:

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EXHIBIT P1 A TRUE COPY OF THE F.D.RECEIPTS (2 NOS.) DATED 16.8.2013. EXHIBIT P2 A TRUE COPY OF THE F.D.RECEIPTS (8 NOS.) DATED 9.10.2017. EXHIBIT P3 A TRUE COPY OF THE F.D.RECEIPTS (3 NOS.) DATED 5.6.2017. EXHIBIT P4 A TRUE COPY OF THE F.D. RECEIPT DATED 12.6.2020. EXHIBIT P5 A TRUE COPY OF THE F.D. RECEIPT DATED 29.11.2020. EXHIBIT P6 A TRUE COPY OF THE JUDGMENT IN WP(C) NO.32165/2019 DATED 17.9.2020.

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RESPONDENT'S/S EXHIBITS NIL

Purushothama Prabhu v. Pattanakkad Service Co-Operative Bank Ltd. NO.1144

Case brief

What is this about?

What did the court decide?

Purushothama Prabhu v. Pattanakkad Service Co-Operative Bank Ltd. NO.1144

Case brief

What is this about?

What did the court decide?

What the court decided

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