GURUVUTHAI Vs. MANAGING DIRECTOR

JUDGEMENT

(1.) THIS Writ Petition is filed seeking a direction to the respondents to make payment of the matured Fixed Deposits in F. D. R. No. 379, dated 06. 06. 2000 for rs. 1,00,000/- in F. D. R. No. 380, dated 06. 06. 2000 for Rs. 50,000/- and in f. D. R. No. 381, dated 06. 06. 2000 for Rs. 50,000/- to the petitioner with interest as agreed.

(2.) ADMITTEDLY, the petitioner made term deposits with Sankarapandiapuram primary Agricultural Co-operative Bank, Sankarapandiapuram. Producing the copies of the term deposit receipts, the petitioner contended that the first respondent has guaranteed the deposits made by the petitioner with Sankarapandiapuram primary Agricultural Co-operative Bank, Sankarapandiapuram, and therefore, the first respondent is liable to release the matured deposit amount to the petitioner.

(3.) THE learned counsel appearing for the petitioner would submit that the petitioner has chosen to deposit with Sankarapandiapuram Primary Agricultural co-operative Bank, Sankarapandiapuram only on the basis of the guarantee given by the first respondent for the deposit being made with the said Co-operative bank. It is his assertion that the said Sankarapandiapuram Primary Agricultural co-operative Bank, Sankarapandiapuram, received fixed deposits from the public, only on the basis of the authority and guarantee given by the first respondent. Similar Writ Petitions filed by some other depositors stood dismissed by this court, as the relief sought for was only against the Bank, which received the deposit amount. Here, the petitioner has sought for relief against the first respondent, who has guaranteed the transaction. Therefore, necessary relief may be granted as prayed for by the petitioner, he would further submit.