Petitioner sought refund of matured bank deposits of Rs.43.68 Lakhs held by Respondent Bank. Due to bank's financial crisis, Court directed installment payments of Rs.4 Lakhs every two months starting May 2021, with reserved right to challenge default.
Direction to pay Rs.4 lakhs every two months from May 3, 2021, till full repayment.
This page shows the compact analysis of this judgement. The full analysis — procedural history, issue-by-issue holdings with ratio and obiter, advocates, and paragraph-level evidence for every claim — is being added to the record in batches and will appear here when this judgement has been through it.
IN THE HIGH COURT OF KERALA AT ERNAKULAM
PRESENT
THE HONOURABLE MR. JUSTICE SUNIL THOMAS
THURSDAY, THE 18TH DAY OF MARCH 2021 / 27TH PHALGUNA, 1942
WP(C).No.748 OF 2021(P)
PETITIONER
SUSHEELA .S AGED 59 YEARS W/O. RAVINDRA SHENOY, EDAKKATTIL HOUSE, SASTHA LANE, ALUVA, ERNAKULAM DISTRICT 683 101
BY ADVS. SRI.K.SANEESH KUMAR SRI.T.E.ISMAIL SMT.V.B.SANTHINI
RESPONDENTS:
1 PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD., NO. 1144, HAVING HEAD OFFICE AT PATTANKKAD POST, CHERTHALA, ALAPPUZHA, KERALA PINCODE 688 531 REPRESENTED BY ITS SECRETARY
2 SECRETARY, PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD, NO.1144, HAVING HEAD OFFICE AT PATTANAKKAD POST, CHERTHALA, ALAPPUZHA, KERALA, PIN CODE 688 531
R1-2 BY ADV. SRI.T.R.HARIKUMAR R1-2 BY ADV. SRI.ARJUN RAGHAVAN
THIS WRIT PETITION (CIVIL) HAVING COME UP FOR ADMISSION ON 18.03.2021, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING:
W.P(C).748/2021
2
JUDGMENT
Petitioner has approached this Court with a grievance that the amount of Rs.43,68,000/- deposited by her with the respondent/bank has not been returned inspite of attainment of maturity period. Learned counsel for the respondents, on instructions, submitted that the bank is in financial difficulties. However, they are making every attempt to repay the money payable. It was suggested by the learned counsel for the bank that, they shall repay in installments at the rate of Rs.4 lakhs each in two months, till the entire amount is wiped off.
Accordingly, I am inclined to dispose of the Writ Petition with a direction that the Bank shall start paying Rs.4 lakhs to the petitioner in a gap of two months, commencing from 3rd of May 2021 onwards. The amount shall be paid and continued to be paid every two months thereafter on or before the 3rd of the concerned month till the entire amount is wiped off. The right of the petitioner to move this Court, in case of any default, is reserved.
Sd/-
SUNIL THOMAS
JUDGE
Sbna
W.P(C).748/2021
3
APPENDIX
PETITIONER'S EXHIBITS:
EXHIBIT P1 A TRUE COPY OF THE DEPOSIT CERTIFICATE ISSUED BY THE 1ST RESPONDENT DATED 22-092014 FOR THE AMOUNT OF RS. 90,000/EXHIBIT P1A DEPOSIT CEERTIFICATE ISSUED BY THE 1ST RESPONDENT DATED 9-2-2015 FOR AN AMOUNT OF RS. 70,000/EXHIBIT P1B DEPOSIT CERTIFICATE ISSUED BY THE 1ST RESPONDENT DATED 19-03-2015 FOR THE AMOUNT RS. 90,000/EXHIBIT P2 A TRUE COPY OF THE REPRESENTATIOND ATED 1911-2020 SUBMITTED BEFORE THE 2ND RESPONDENT BY THE PETITIONER.
1 issue framed by the court
Whether the petitioner is entitled to immediate refund of matured deposit amount retained by the bank due to financial difficulties.
SUSHEELA .S
PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD
SECRETARY, PATTANAKKAD SERVICE CO-OPERATIVE BANK LTD
SUNIL THOMAS
As recorded by the court registry
Judgements on the same questions, provisions and authorities, from every court
