KAILASH CHANDRA MAURYA Vs. STATE OF U P

JUDGEMENT

(1.) We have heard Sri Sunil Kumar Maurya, for the Petitioner. Sri D. P. Singh appears for the Zila Sahkari Bank Ltd.

(2.) The Petitioner had deposited some amount in fixed deposit Account Nos. 1604 and 2456 in the City Branch of Zila Sahkari Bank Ltd., Jaunpur. According to the Petitioner, the amount in the aforesaid account as in the year 2007 was Rs. 48,370 and in the year 2010 was Rs. 57,180 after which no transaction of deposit, or withdrawal was made by the Petitioner.

(3.) The Zila Sahkari Bank Ltd., Jaunpur has run into financial difficulties, and is unable to pay the matured amount to the fixed depositors. It had applied for rehabilitation package, to bail itself out of the financial crisis on account of no recoveries from the farmers, and has been considered for special advances to the weaker banks in the co-operative sector under the Vaidyanathan Committee appointed by the N.A.B.A.R.D.