SHIBU FRANCIS Vs. STATE OF KERALA

JUDGEMENT

(1.) THE petitioner is a member and share holder of the 7th respondent society, who has approached this Court, allegedly at the instance of other 12 share holders as well, voluntarily offering that the petitioner, with support of the others concerned, is ready and willing to clear the liability of the 7th respondent society, in respect of the loan availed from the 4th respondent and that coercive proceedings under the Revenue Recovery Act might be dropped so as to save the society and thus to protect the rights and interest of the members/share holders as well.

(2.) WHEN the matter came up for consideration before this Court on 14.06.2012, urgent notice on admission was ordered to the respondents, simultaneously ordering 'status quo' to be maintained for a period of two weeks, on condition that, the petitioner deposited a sum of Rupees One lakh, which is stated as complied with and accordingly, the interim order was extended on 26.06.2012 and thereafter on 13.07.2012 as well.

(3.) THE Writ Petition is disposed of.