MAHARASHTRA STATE CO-OPERATIVE Vs. LIQUIDATOR

JUDGEMENT

(1.) Rule. Rule made returnable forthwith. Heard finally with the consent of the parties.

(2.) The present petition is filed by the petitioner (original respondent no. 2 in Dispute No. 56/2013 before the Co-operative Court at Ahmednagar) challenging the judgment and order dtd. 24/4/2017 passed by the Maharashtra State Co-operative Appellate Court, Mumbai, Bench at Aurangabad in Appeal No. 08/2016 to the limited extent of directing the petitioner to deposit an amount of Rs.1,68,783.00 in the trial Court, while remanding the matter back to the Trial Court.

(3.) Respondent no. 2 herein is a retired senior citizen aged 80 years. He is a member of respondent no. 1 - society. The petitioner is a co-operative housing finance corporation whose main aim is to provide loans to the poor and needy people in the society for construction of houses. Respondent no. 2, who is a member of respondent no. 1 - society in respect of Plot No. 41, had borrowed loan of Rs.19,400.00 from respondent no. 1 for construction of house on the said plot. The said loan was to be repaid in installments to be decided by respondent no. 1 - society. In the year 1990, respondent no. 2 borrowed another loan from the petitioner - corporation. On 17/4/1990, respondent no. 2 paid Rs.13,700.00 towards repayment of loan obtained by him to the then chairman - Mr. P. K. Menon of respondent no. 1 - society. A receipt to that effect was issued with an endorsement that 'No Dues ' are outstanding as against respondent no. 2. Respondent no. 2 thereafter even sought 'NOC ' but the Chairman of respondent no. 1 - society for the reasons best known to him did not issue the 'NOC ' on the ground that the 'NOC ' would be issued only after accounts are finalized. Respondent no. 2 then time and again followed up for the same but it was not issued.