PROVAT KUMAR CHATTERJEE Vs. STATE OF W B

JUDGEMENT

(1.) The present writ petitioner is a Guarantor to Purulia Co-operative Bank Ltd. (hereinafter referred to as the said Bank) for obtaining loan of Rs. 45,000/- at an interest of 10% per annum by the Respondent Nos.7 and 8, namely, Biswanath Chaterjee and Sm. Tapati Chatterjee who are carrying on business under the name and style of Bichitra Sales Corporation at Purulia, dealing in various kinds of electrical goods etc.

(2.) The Respondents Nos. 7 and 8, however, failed to repay Rs. 44,999.99 on account of "principal" and Rs. 6,743.40 on account of "interest" after expiry of the relevant date i.e. June 28, 1975 and accordingly, the Bank, by service of registered notice dated Oct. 30,1975, called upon the said Respondents Nos. 7 and 8 to repay the said amount.

(3.) Thereafter, a dispute under S.86 of the West Bengal Co-operative Societies Act, 1973 (hereinafter referred to as the said Act) was raised before the Assistant Registrar, Co-operative Societies, Purulia at the instance of the Respondent Bank, and Arbitration Case No.5 of 1975-76 was started, which was not contested by Respondents Nos.7 and 8.