SHANMUGHANARAYANAN Vs. THE KERALA CO-OPERATIVE TRIBUNAL

JUDGEMENT

(1.) This writ petition is filed by the 1st petitioner seeking to quash Ext.P1 order of the 1st respondent Tribunal and for other related reliefs. Consequent to the death of the 1st petitioner, his legal heirs were impleaded as petitioners 2 to 5.

(2.) Brief facts for the disposal of the writ petition are thus:

(3.) Petitioner has allegedly availed a loan from the 3rd respondent Bank and has defaulted the same. Consequent to which, 3rd respondent has instituted ARC proceedings before the Arbitration Court. After adjudicating the issue, the Arbitration Court has passed an award in favour of the 3rd respondent, by granting a decree for an amount of Rs.10,39,115 -30 with interest at the rate of 12% from 12.09.1995.