SHAJI KOSHY Vs. STATE OF KERALA

JUDGEMENT

(1.) The petitioners have approached this Court seeking that the amounts deposited by them in two Savings Bank Accounts, bearing No. 4744/11 and 4745/11, with the 7th respondent - Poruvazhi Service Co-operative Bank (hereinafter referred to as 'the Bank' for short), be allowed to be withdrawn since they require the amount for emergent reasons.

(2.) As regards the Saving Account is concerned, the learned counsel for the petitioners says that, as is clear from Exts. P1 and P2, his clients had a credit of Rs. 21,80,661/- therein in December, 2017, but that the bank is not allowing them to withdraw it.

(3.) The learned standing counsel appearing for the respondent - bank submits that the bank is unable to allow operation of the accounts because large scale misappropriation of amounts in the Savings Bank Accounts have been noticed by them at the instance of a particular employee and that proceedings under S. 68 of the K.C.S. Act has been initiated against him.