MEENACHIL RUBBER MARKETING & PROCESSING CO-OPERATIVE SOCIETY LTD Vs. CHOONDACHERY SERVICE CO-OPERATIVE BANK LTD

JUDGEMENT

(1.) These writ appeals are directed against the judgment rendered by a learned single Judge of this court in W.P. (C) No.18243 of 2015 and W.P.(C) No.39498 of 2015. Writ Appeal No.1977 of 2017

(2.) This appeal arises out of the judgment in W.P. (C) No.18243 of 2015. The brief facts of this case are as follows: Choondacherry Service Co-operative Bank Limited, the writ petitioner, had deposited Rs.90, 00, 000/- in the Meenachil Rubber Marketing and Processing Co-operative Society. The amount was deposited for a period of 13 months. The fixed deposit made has attained maturity on 14.04.2015. But, the Society refused to refund the amount covered by the fixed deposit receipt to the petitioner bank. The writ petition was filed for issuing a direction to the Society to pay the amount covered by the fixed deposit receipt to the petitioner bank with future interest.

(3.) The Society filed counter affidavit in the writ petition admitting the liability to pay the amount to the bank. But, the Society contended that no writ petition is maintainable against a cooperative society. The Society also contended that the writ jurisdiction of the court cannot be exercised to grant the relief prayed for by the bank when alternative statutory remedy is available to the bank. The Society pleaded that it could not pay the amount due to the bank within time due to financial crunch.