M ARAVINDAKSHAN NAIR Vs. STATE OF KERALA

JUDGEMENT

(1.) THE first petitioner is the Chairman of the Board of Directors of the 5th respondent Bank and petitioners 2 and 3 are Members of the Board of Directors and the 4th petitioner is the Vice Chairman.

(2.) IN so far as this writ petition is concerned, the relevant facts are that Ext. P13 is an order passed by the 3rd respondent levying surcharge on the petitioners exercising powers under Section 68 (2) of the Kerala Co-operative societies Act. The petitioners submit that aggrieved by Ext. P13, they filed ext. P16 appeal before the 1st respondent, availing of the appellate remedy that is available under Section 83 of the Kerala Co-operative Societies Act, and the appeal is pending. During the pendency of the appeal, in order to avoid further consequences of Ext. P13, petitioners filed Ext. P20 stay petition. By ext. P22, the stay sought for was declined and that was directed to be reconsidered in Ext. P23 judgment rendered by this Court in WP (C) No. 19197/2008. Accordingly, the matter was reconsidered and by Ext. P24, the Government have again rejected the stay petition. It is in these circumstances, the writ petition is filed, primarily challenging Ext. P24.

(3.) HEARD the learned counsel appearing for the petitioners, and also the learned Government Pleader.