IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN WEDNESDAY, THE 18TH NOVEMBER 2009 / 27TH KARTHIKA 1931 WP(C).No. 17431 of 2007(A) -------------------------- PETITIONER(S): --------------- 1. J.S.SREEJA, D/O.K.S.JAYA, 'SWAPNA', KULANGARAKONATU, MATCHEL, THIRUVANANTHAPURAM. 2. K.KESAVAN NAIR, 'SWAPNA', KULANGARAKONATU MATCHEL, THIRUVANANTHAPURAM. BY ADV. SRI.P.B.SURESH KUMAR RESPONDENT(S): --------------- THIRUVANANTHAPURAM SERVICE CO-OPERATIVE BANK LIMITED NO.131, THIRUVANANTHAPURAM, REPRESENTED BY ITS SECRETARY. ADV. SRI.D.SAJEEV FOR R1 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 18/11/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: PETITIONERS' EXHIBITS: W.P.C. NO. 17431/2007. --------------------------------------------------------------------- EXT.P1 TRUE COPY OF LAWYER'S NOTICE DT. 20-2-2002. EXT.P2 REPLY NOTICE DT. 4-3-2002. EXT.P3 AWARD IN ARC NO. 131/2005 DT. 17-5-2006. EXT.P4 ORDER DT. 3-4-2007. [TRUE COPY] P.S TO JUDGE. S. Siri Jagan, J. =-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-=-= W. P (C) No. 17431 of 2007 =-=-=-=-=-=-=-=-=--=-=-=-=-=-=-=-=-= Dated this, the 18th November, 2009. J U D G M E N T The petitioners deposited amounts with the respondent-bank as fixed deposits. After the maturity period, the same were not returned to the petitioners, even after a demand was made for the same. The petitioners filed an arbitration case in which the arbitrator passed a decree directing refund of the money with 12% interest. The respondent filed an appeal before the Tribunal. By Ext. P4 order, the Tribunal modified the order of the arbitrator to the effect that the petitioners are not entitled to interest between 9-7-1999 and 20-2- 2002 on the ground that the petitioners made a demand for the said amount only on 20-2-2002, after the date of maturity. The petitioners therefore seek the following reliefs: “(i) Issue a writ of certiorari or any other appropriate writ, direction or order calling for the records leading to Ext. P4 order of the Kerala Co-operative Tribunal, Thiruvananthapuram and quashing the same to the extent it provides that first petitioner is not entitled to get interest for the period from 9/7/99 to 20/2/2002. (ii) declare that petitioner is entitled to get interest at the rte of 12% for the period from 9/7/1999 to 20/2/2002.” 2. Counsel for the bank opposes the prayers on the ground that after the date of maturity, the bank is not liable to pay any interest on the fixed deposits. 3. After hearing, I am not inclined to accept the contention of the bank. The bank had the use of the petitioners' money and at the same time, the petitioners were deprived of their money. It is the consistent practice of all banks to pay interest even after maturity period. Taking into account the facts and circumstances of the case, I direct that the petitioners be paid interest at the rate of 6% on the W.P.C. No. 17431/07 -: 2 :- amount for the period from 9-7-1999 to 20-2-2002 also in addition to the interest for other periods as directed by the Tribunal. Ext. P2 order of the Tribunal would stand modified as above and the writ petition is disposed of accordingly. Sd/- S. Siri Jagan, Judge. Tds/