POULOSE Vs. SENIOR SUPERINTENDENT OF POST OFFICE

JUDGEMENT

(1.) These two appeals have been filed against the same judgment dated 31st July, 2014 passed in W.P.(C) No. 20131/2009. The Writ Petition was filed by the respondent in W.A. No. 1674/2014. The respondent, (the petitioner in the Writ Petition), Secretary of the Mulanthuruthy Service Co-operative Bank, has purchased 10 National Savings Certificates for Rs. 10,000/- each on 25th March, 2003. The maturity date of the certificates was 25th March, 2009. When the petitioner presented the certificates after maturity date, the Department declined to release the maturity amount. The petitioner, in the circumstances, had filed the Writ Petition for the following reliefs:

(2.) Counter affidavit was filed in the Writ Petition, wherein the Department has referred to the National Saving Certificates (VIII) Issue Rules, 1989, which has been produced as Ext. R1(A). The Department's case was that the benefit of the scheme Cannot be availed by a Co-operative Society, which has been expressly excluded under the Scheme. Hence, no interest can be earned on the National Savings Certificates produced by the petitioner. It is stated that the petitioner has purchased the certificates in his official capacity and not in his personal capacity and the money invested was that of the Bank.

(3.) The learned Single Judge, after hearing the parties, allowed the Writ Petition and directed payment of maturity amount of Rs. 16,010/-. The learned Single Judge took the view that when there is an endorsement signed by the Sub Post Master in each certificate to the effect that the Government of India promises to pay to the depositor an amount of Rs. 16,010/- on or after 25.3.2009, the respondents' contention cannot be accepted. The Writ Petition was allowed directing payment. However, further interest was declined. The Department have filed an appeal against the judgment, whereas the writ petitioner has filed appeal against denial of future interest.