IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE HARUN-UL-RASHID THURSDAY, THE 8TH OCTOBER 2009 / 16TH ASWINA 1931 WP(C).No. 8366 of 2006(U) ------------------------- PETITIONER: --------------- THE KOLLAM DISTRICT CO-OPERATIVE BANK LTD., P.B.NO.130, KOLLAM, REPRESENTED BY ITS GENERAL MANAGER. BY ADV. SRI.P.B.SURESH KUMAR SRI.B.VINOD,SC,KOLLAM DIST.CO.OP.BANK L SRI.PIRAPPANCODE V.S.SUDHIR,SC,EPF ORGN RESPONDENT(S): --------------- 1. STATE OF KERALA, REPRESENTED BY THE CHIEF SECRETARY TO GOVERNMENT, GOVERNMENT SECRETARIAT, THIRUVANANTHAPURAM. 2. THE REGISTRAR OF CO-OPERATIVE SOCIETIES, THIRUVANANTHAPURAM. 3. THE DISTRICT COLLECTOR, KOLLAM. 4. TAHSILDAR (REVENUE RECOVERY), KOLLAM. 5. QUILON DISTRICT WHOLESALE CO-OPERATIVE CONSUMER STORS LTD., REPRESENTED BY ITS MANAGING DIRECTOR, CHAMAKKADA, KOLLAM. 6. KERALA STATE CO-OPERATIVE CONSUMERS FEDERATION LTD., REPRESENTED BY ITS MANAGING DIRECTOR, GANDHINAGAR, ERNAKULAM, KOCHI. ADDL.R7. C.G.CHRISTOPHER S/O LATE C.V. GEORGE PUTHEN BENGLOW ASRAMAM P.O, KOLLAM ADDL.R8. P.R.VISWAMBHARAN PANAVILA VEEDU ASRAMAM NORTH KOLLAM-2 ADDL.R9. M.SARASWATHY AMMA PANAVILA VEEDU ASRAMAM NORTH KOLLAM-2 (ADDITIONAL RESPONDENTS 7 TO 9 ARE IMLEADED AS PER ORDER DATED 27.3.2006 IN I.A. 4820/2006) ADDL.R10.N.UNNIKRISHNA PILLAI CHIRAKKAL HOUSE, AMAYIDA AMBALAPPUZHA ADDL.R11. A.SHAMSUDDIN KOYA PAITHRIKAM, SREEVILASAM NAGAR VADAKKEVILA P.O, KOLLAM 691 010 ADDL.R12. P.GOPALA PILLAI GEETHANJALI, MAMATHA NAGAR 24 NEAR RAMANKULANGARA, KANNIMAL CHERRY KAVANAD P.O, KOLLAM 691 003 ADDL. R13 N.CHANDRASEKHARAN PILLAI THEKKE PENNATTAYATHU VEEDU,CHARUKADU CHEMMAKKAD P.O, KOLLAM ADDL. R14.K.GOPINATHAN PILLAI GEETHA BHAVANAM , VADAKKEKARA THRIKKARUVA, ASHTAMUDI P.O, KOLLAM ADDL.R15. SREEKANTANKUTTY NAIR PALOLIL, THIRUMULLAVARAM P.O, KOLLAM 691 012 ADDL.R16. MADHAVAN PILLAI RAJENDRA VILASOM, KOTTAMKARA CHANDANATHOPE P.O, KOLLAM ADDL.R17. P.MANIKANTAN PILLAI EDATHUNDIL, PUNUKKANNOOR KUREEPPUZHA P.O, KUNDARA, KOLLAM ADDL.R18.B. VARADARAJAN NAIR PRANAVAM, MYTHRI NAGAR 131 NEAR GANDHI JUNCTION, KIZHAKKEKARA KOTTARAKARA ADDL.R19.L.PADMINI KRISHNAKRIPA, CHAVARA B.P.O CHAVARA, KOLLAM ADDL.R20.K.JAMEELA BEEVI JAMEELA MANZIL PEROOR, THATTARKONAM P.O, KOLLAM ADDL.R21. K.GOPINATHAN LAILA SADANAM, MUNDACKAL KOLLAM ADDL.R22. M.KUNUJURAMAN PILLAI ANJALI, PEROOR, KOTTAMKARA TKM COLLEGE P.O, KAROCODE ADDL.R23.K.HEMALATHA KOCHUTHENTATHU VEEDU, THAZHAM CHATHANNOOR, KOLLAM ADDL.R24. RADHAMONY AMMA KALA BHAVAN, AKKOLIL VALATHUNGAL P.O, KOLLAM ADDL. R25.M.THANKACHI ROHINI NIVAS JANANI NAGAR-11 THOTTATHIL VADAKKATHIL KADAPPAKKADA P.O, KOLLAM (ADDITIONAL RESPONDENTS 10 TO 24 ARE IMPLEADED AS PER ORDER DATED 24.5.2006 IN I.A. NO.6454/2006) ADDL. R26.A.THAJUDEEN S/O LATE ABDUL REHMAN MUSALIAR MUSALIAR BUILDING MANKADU, VADAKKEVILA P.O KOLLAM 10. ADDL.R27. T.LEELAMMA BIJU BHAVAN, KADAVOOR PERINADU.P.O, KOLLAM ADDL.R28.V.VIJAYAMMA P.R.R. A/45 T.C. 2/1061(4) PAZHAYA ROAD MEDICAL COLLEGE P.O, THIRUVANANTHAPURAM-11 ADDL.R29.S.MOHAMMED HANEEFA SHAJI MANZIL NETTAYAM P.O, POOYAPPALLY, KOLLAM ADDL.R30.G.ARAVINDHAKSHAN PILLAI MINI BHAVAN PANAYAM P.O, KOLLAM ADDL.R31. G.GOPINATHAN GOPINATHAVILASAM CHITTAYAM, PERINADU.P.O PANAYAM P.O, KOLLAM ADDL.R32. N.NARAYANA PILLAI SREE MANDIRAM INCHAVILA P.O ADDL. R33.K.R.PUSHPA KUMARI PARAPPADIYIL VEEDU SAKTHIKULANGARA.P.O KOLLAM (ADDITIONAL RESPONDENT 26 TO 33 ARE IMPLEADED AS PER ORDER DATED 1.6.2006 IN I.A. NO. 6780/2006) ADV. SMT.I.SHEELA DEVI SRI.B.SURESH KUMAR FOR R5 SRI.M.PATHROSE MATTHAI, SENIOR ADVOCATE FOR R6 SRI.RONY J.PALLATH FOR R6 SMT.T.V.NEEMA FOR R.10TO25 THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 08/10/2009, ALONG WITH WPC NO. 9143 OF 2006 WPC NO. 15382 OF 2006 WPC NO. 1178 OF 2007 THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 8366 of 2006 APPENDIX Ext.P1: true copy of the minuted of the meeting held in the chamber of the Honourable Minsiter for Co-operation, Government of kerala dated 23.8.2005 Ext.P2: true copy of the communication sent by the petitioner bank to the fifth respondent society dated 5.9.2005 Ext.P3; true copy of the order issued by the registrar of Co-operative Societies dated 29.11.2005. Ext.P4: true copy of the order issued by the Registrar of Co-operative Societies dated 29.12.2005 Ext.P5: true copy of the sale notice issued by the fourth respondent dated nil Ext.R7(a): true copy of the order of the Labour Court in claim petition 96 of 1991 Ext.R7(b): True copy of the order of the Labour Court in claimpetition 74 of 1998 in favour of the 1st impleading petitioner. Ext.R7(c): true copy of the order of the Labour Court in claim petition 56 of 2004 in favour of the 2nd impleading petitioner. Ext.R7(d): true copy of the order of the Labour Court, in claim petition 97 of 2002 in favour of the 1st impleading petitioner. Ext.R7(e): true copy of the order of the District Labour Officer in G.C. 81 of 2003 in favour of the 1st impleading petitioner. Ext.R7(f)True copy ofo the order of the District Labour Officer in G.C. 106 of 2005 in favour of the 2nd impleading petitioner. Ext.R7(g); True copy of the order of the District Labour Officer in G.C.246 of 2005 in favour of the 3rd impleading petitioner //true copy// HARUN-UL-RASHID, J. ---------------------------------------- W.P.(C) No.8366, 9143 & 15382 of 2006 and W.P.(C) No.1178 of 2007 ---------------------------------------- Dated this the 29th day of September, 2009 JUDGMENT The petitioner in Writ Petition No.8366 of 2006 is the Kollam District Co-operative Bank Ltd, (hereinafter referred to as the Bank) The facts of this writ petition are as follows:The 5th respondent in this writ petition is the Quilon District Wholesale Co-operative consumer Stores Ltd.(hereinafter referred to as the Society). It is submitted by the Bank that the 5th respondent Society is not functioning during the last few years. Earlier, when the said society was functioning it had enjoyed credit facility from the petitioner-Bank and a sum of Rs. 182.3 lakhs is due to the petitioner -Bank in connection with the said credit facilities. Out of the said sum of Rs. 204.11 lakhs, Rs.47.45 lakhs is the principal component and Rs. 157.26 lakhs is the interest component. 5th respondent society has other liabilities also including liabilities to the State Government, Kerala State Co-operative Consumers Federation Ltd.(hereinafter referred to as the Federation) workers'/employees' dues etc. 5th respondent society is at present managed by an administrative Committee appointed by the Department of Co-operative societies. According to the petitioner-Bank Government have been taking earnest efforts for the revival of the 5th respondent society and for that purpose, various conferences of the persons W.P.(C) No.8366 of 2006 -2- & Connected cases concerned have been convened by the Government. In continuation of the earlier conferences at the instance of the Honourable Minister for Co- operation of the State Government, a meeting of all concerned persons was also convened in the chamber of the Minister on 23.8.2005. In the said meeting with a view to revive the operations of the 5th respondent society it was decided that the petitioner-Bank should waive the entire interest component of the loan due from the 5th respondent society and to recover the principal amount due viz.47.45 lakhs, it should purchase an extent of 60 Cents of land owned by the 5th respondent society at the rate of Rs.1.5. Lakhs per cent and after appropriating the said Rs.47.55 lakhs due to the Bank, the balance Rs.42.45 lakhs shall be paid to the society. Likewise, it was also decided that the 6th respondent Federation should also waive the amounts due to it from the 5th respondent society by way of interest and should buy 40 cents of land owned by the society at the very same rate and pay to the society a sum of Rs.22.21 lakhs after appropriating the principal amount due to it from the 5th respondent society. It was also decided in the said meeting that the 5th respondent society should revive its operations with the funds to be given by the petitioner-Bank and the 6th respondent, after settling its other liabilities. The petitioner also submitted that the Executive Committee of the petitioner Bank in the meeting held on 2.9.2005 resolved to accept the revival package as decided in the meeting held on 23.8.2005 and the said decision was communicated to the 5th respondent Society on 5.9.2005. Thereafter, pursuant to Exts. P1 and P2 decisions , 5th respondent society W.P.(C) No.8366 of 2006 -3- & Connected cases sought permission of the Registrar of Co-operative Societies to sell 60 Cents of property belonging to it to the petitioner Bank as decided in the meeting held on 23.8.2005 and in response to the said request, the registrar of Co-operative Societies accorded the permission sought for by the 5th respondent society on 29.11.2005. Later the 6th respondent Federation was also permitted by the Registrar of Co-operative societies to purchase the property of the 5th respondent society as decided in the meeting held on 23.8.2005. The petitioner -Bank pleaded that pursuant to Exts.P3 and P4 orders of the Registrar of Co-operative Societies, when steps were being taken by the petitioner -Bank to purchase the property of the 5th respondent society,4th respondent issued a sale notice as provided for under the Revenue Recovery Act for sale of the property covered by Exts.P3 and P4 orders. As per Ext.P5 notice the property permitted to be purchased by the petitioner-Bank and the 6th respondent for a total sum of Rs. 150 lakhs is proposed to be sold for recovery of a sum of Rs. 34,56,273/-. The said amount also includes sales tax arrears, audit fees, wrokers' dues etc of the 5th respondent society. The petitioner also respectfully submitted that the petitioner -bank could have recovered its dues from the 5th respondent society long back by proceeding against the said property. However , the said course was not resorted to by the petitioner-Bank as the Government have been taking earnest efforts to revive the society and thereby to protect not only the interest of the employees, but also the interest of the general public. It is with the aforesaid objective, the Government directed the petitioner-Bank to waive W.P.(C) No.8366 of 2006 -4- & Connected cases the interest component of the loan viz. Rs. 157.26 lakhs. Now, if the property of the 5th respondent society is sold for recovery of the amount covered by Ext.P5 notice, the society will not be revived at all and in addition the petitioner-Bank would lose the substantial amounts due from the 5th respondent society. Further, the same would defeat the entire efforts taken by the Government for the last several years for the revival of the society for the better interest of the public as well as the employees of the society. According to the petitioner-Bank since the recovery of the amounts is covered by Ext.P5 notice, it is not necessary at all to sell the entire 1 acre of property owned by 5th respondent Society. In so far as 5th respondent has been given permission by the Registrar of co-operative Societies to sell 60 cents of property owned by it to the petitioner-Bank, petitioner-Bank can purchase the same and pay to the 5th respondent society, a sum of Rs. 42.55 lakhs, so that it can settle its liabilities without losing the entire property and at the very same time, it can liquidate the liability due to the petitioner bank as well. Further it can revive its operations also by selling the rest of the property to the 6th respondent. The petitioner-Bank also pleaded that the representatives of them in the above said circumstances though approached the authorities under the Revenue Recovery Act and requested them to refrain from selling the property of the 5th respondent society as proposed in Ext.P5 notice, they are expressing their inability to do anything in this matter as the amount sought to be recovered as per Ext.P5 notice are amounts determined as due by statutory authorities. Hence the petitioner bank filed the writ petition W.P.(C) No.8366 of 2006 -5- & Connected cases for the following reliefs: (i) Issue a writ of certiorari or any other appropriate writ, direction or order calling for the records leading to Ext.P5 sale notice issued by the 4th respondent and quashing the same. (ii) Issue a writ of mandamus or any other appropriate writ, direction or order commanding the 2nd respondent to take appropriate action to implement Ext.P1 scheme for revival of the 5th respondent Society within a time limit to be prescribed by this Court. 2. The above mentioned Society filed Writ Petiton No.9143 of 2006 . The facts of this writ petition are as follows; The 5th respondent in this writ petition one C.G.Christopher,who joined the Society as a Salesman retired from service as Depot Manager Grade-II had filed claim petition No.74/1998 before the Labour Court, Kollam claiming time bound higher grade benefits granted to the employees of the Co-operative Societies for the period 1/91 to 10/98. The Managing committee of the Society has not taken any decision to grant time bound higher grade benefits to its employees and therefore the 5th respondent cannot claim the higher grade benefits. The Society filed a written objection before the Labour Court contending that the above petition is not one coming within the ambit of Section 33(c) (2) of the Industrial Disputes Act. It was also contended that there is no existing right based on which benefit payable can be determined invoking the provisions of Section 33 (C)(2) of the Industrial Disputes Act. It was further contended that the 5th respondent is not a workman and the claim is barred by limitation. Without considering W.P.(C) No.8366 of 2006 -6- & Connected cases any of the contentions raised by the Society, the Labour Court by order dated 24.6.2003 directed the Society to pay a sum of Rs. 1,17,876/- as arrears of wages from 1/91 to 10/98. The petitioner also produced a true copy of the order dated 24.6.2003 in claim petition No.74/1998 passed by the Labour court, Kollam, as Ext.P3. The 5th respondent also filed another claim petition before the Labour Court, Kollam claiming arrears of Dearness Allowance which were not sanctioned by the Society. Without going into the question whether the 5th respondent is eligible to get the Dearness Allowance for the reason that the Society was exparte, the Labour Court, Kollam by order dated 28.7.2003 directed the Society to pay a sum of Rs.1,50,422/- towards arrears of Dearness Allowance from 11/1998. A true copy of the order dated 28.7.2003 passed by the Labour Court, Kollam in C.P. No. 97/2002 is also produced herewith as Ext.P5. Ext.P10 is the sale notice issued by the 2nd respondent for sale of the property scheduled to take place on 29.3.2006. According to the petitioner Society Exts.P3 and P5 orders are illegal and liable to be set aside. The disputed benefits cannot be granted by invoking the provisions of Section 33(C)(2) of the Industrial Disputes Act. Time bound higher grade promotion not approved by the Managing Committee of the Society cannot be granted by the Labour Court by invoking the provisions of Section 33(C)(2) of the Industrial Disputes Act. The arrears of Dearness Allowance not approved by the Managing Committee of the Society also cannot be granted by the Labour Court by invoking the provisions of Section 33(C) (2) of the Industrial Disputes Act. The petitioner Society also W.P.(C) No.8366 of 2006 -7- & Connected cases pleaded that the revival scheme of the society has been formulated with best intention and in the meantime if the property is sold it would cause irreparable loss and injury. Hence the petitioner society filed the writ petition for the following reliefs: (i) a writ of certiorari or other appropriate writ, direction or order quashing Exts. P3, P5 & P10 as illegal, arbitrary and without jurisdiction (ii) a writ of mandamus or other appropriate writ, direction or order directing the 4th respondent to complete the revival scheme as expeditiously as possible and till such time direct the respondents 1 to 3 to keep in abeyance the revenue recovery proceedings. 3. The above petitioner Society also filed W.P.(C) No.15382 of 2006 . The facts of the writ petition in brief are as follows: The petitioner society is registered under the Kerala Co-operative Societies Act and the Rules framed thereunder. The Society is organised by the Central Government and financed by the Government of Kerala for stabilising the price level of essential commodities and equitable distribution of consumable articles to public. The society is having liability of more than Rs.4 crores and is not paying salary to its employees from November 2001 onwards. The former employees of the Society had moved respondents 4 to 6 to recover the amount by revenue recovery proceedings. The property belonging to the Society which has been agreed to be sold to the Bank and the Federation (petitioner and the 6th respondent respectively in W.P.(C) No.8366 of 2006) has been attached by the respondents 4 to 6 W.P.(C) No.8366 of 2006 -8- & Connected cases herein. The 5th respondent issued notice for sale of the property for sale of the property for recovering the arrears due to the employees. Consequently the Registrar of Co-operative Societies and the Government of Kerala had given sanction to sell one acre of prime land belonging to the Society at the rate of Rs. 1,50,000/- per cent to the Bank and to the Federation for reviving the society and the same landed property is put on revenue recovery sale at the instance of employees/former employees of the society for recovering the arrears of salary, gratuity and other dues, without obtaining sanction from the Registrar of Co-operative Societies and the Government of Kerala and without fixing the upset price for the land. Under the revival scheme there is sufficient provision for payment of salary, gratuity and other arrears to all the employees/former employees on pro rata basis. Hence the petitioner society filed this writ petition for the following reliefs: (i) a writ of certiorari or other appropriate writ, direction or order quashing Ext.P6 and other proceedings to sell the immovable property belonging to the Society as illegal (ii) a writ of mandamus or other appropriate writ, direction or order directing respondents 1 to 3 to complete the revival scheme as expeditiously as possible and till such time direct the respondents 4 to 6 to keep in abeyance the revenue recovery proceedings (iii) A declaration that the property belonging to the society cannot be sold for a price less than Rs.1.5 lakh per cent as that is the upset price fixed by the Registrar of Co-operative Societies and the Government and that the employees/former W.P.(C) No.8366 of 2006 -9- & Connected cases employees of the Society are entitled to only pro rata amount as the sale proceeds will not be sufficient to meet the entire demand of the employees/former employees. 4. The petitioner in W.P(C)1178 of 2007 is the wife of one late Abdul Hameed who is the owner of a vegetable shop conducted under the guidance of the 2nd respondent. The facts of the writ petition are as follows: The petitioner's late husband entered into an agreement with the 2nd respondent on 29.12.1998 for the conduct of a vegetable shop on Commission basis under the guidance of the 2nd respondent. For the above purpose, the petitioner's husband on 28.12.1998 and on 29.12.1998 advanced an amount of Rs. 7,00,000/- (Rupees Seven Lakhs Only) as Security deposit to the 2nd respondent and receipts were issued by the 2nd respondent for an amount of Rs. 5,00,000/- (Rupees Five Lakhs only) Thereafter due to the severe financial crisis the shop was closed and subsequently a petition was preferred by the petitioner on behalf of her late husband demanding the amount advanced by the petitioner's husband. It is also submitted that the 2nd respondent appeared before the 3rd respondent and filed an objection admitting the execution of agreement and the acceptance of Rs.5,00,000/-(Rupees Five Lakhs Only) from petitioner's deceased husband. On 23.12.2005 the 3rd respondent pronounced an order after evaluating the oral and documentary evidence, allowed the complaint by directing the 2nd respondent to return Rs.5,00,000/- (Rupees Five Lakhs only) with 6% interest from the date of acceptance.(Ext.P1) The petitioner on 17.6.2006 filed an execution W.P.(C) No.8366 of 2006 -10- & Connected cases application No.999 of 2006 in ARC No.454 of 2002 against the 2nd respondent for the execution of Ext.P1 order along with an affidavit with a petition under Section 78 of the Kerala Co-operative Societies Act to attach the petition schedule properties for the recovery of the decree debt. The petitioner also respectfully submitted that on 27.9.2006 the 4th respondent herein issued a notice to the petitioner informing his disabilities to proceed with the execution on the ground that a writ petition No. 15382 of 2006 is pending before this Court filed by the 2nd respondent and on 5.7.2006 an interim order was passed by this Court restraining the Tahsildar, Revenue Recovery kollam, from proceeding against the sale of property owned by the 2nd respondent. A true copy of the notice issued by the 4th respondent dated 27.9.2006 is produced herewith as Ext.P2. The petitioner thereafter enquired with office of this Court and understood that the interim order passed by this Court on 5.7.2006, in W.P.(C) No.15382 of 2006, is nothing to do with the petitioner's case and the interim order never prohibits the petitioner from proceeding against the 2nd respondent or their assets. The petitioner also produced a true copy of the said interim order as Ext.P3. Hence being aggrieved by Ext.P2 the petitioner filed the writ petition for the following reliefs: (i) to issue a writ of certiorari and quash Ext.P2 notice issued by the 4th respondent as illegal (ii) To issue a writ of mandamus, orders or directions to the 3rd and 4th respondents to proceed with the execution proceedings pursuant to Ext.P1 order and to realise the W.P.(C) No.8366 of 2006 -11- & Connected cases decree debt as prayed by the petitioner. 5. On 30.3.2009,when the writ petitions were taken up for final hearing it is submitted at the Bar that the society has become defunct in the year 2001 that at present the society have no office, that the office of the society has been sealed by the Kollam Corporation during March 2005 and that the only saleable asset belonging to the society is the above referred one acre of land This Court observed that the total liability of the society will come to more than Rs. 3 crores and that the total sale consideration if calculated as per the rate fixed by the Registrar will fetch only Rs. 1.5 crores. This Court also found that if the liabilities are discharged even at the subsidised rate there will be nothing left for investing any amount for the revival purposes and moreover the said revival package for the Society as per Ext.P3 (in W.P.(C) No.15382 of 2006) will never come into force. After finding that the liabilities far exceeds the value of the assets of the society and that even if the market value of the property of the Society is fixed at a higher rate, no amount will be left for the revival purpose, this Court directed respondents 7 and 8 to suggest the market value of the property in between Rs. 2.5 lakhs and 3 lakhs and report the matter to this Court. 6. .After several postings the cases were taken up for final hearing on 27.8.2009. On 27.8.2009 the Bank and the Federation conveyed their decision to purchase the property at the rate of Rs. 2.26 lakhs per Cent This Court also given two months time to the Bank and to the Federation to deposit the sale consideration after deducting the W.P.(C) No.8366 of 2006 -12- & Connected cases liabilities due to them As per the statement filed by the counsel for the Society, the amount available from the sale of the property is Rs 2,26,00,000/-(Two crores and Twentysix lakhs). This Court is of the firm opinion that the said amount is sufficient enough to discharge the liabilities due to the various creditors but the said revival package for the Society cannot be materialised with the amount remains after the discharge of the liabiltiies. . All the parties to the writ petitions submitted that amounts obtained from the sale of the properties shall be divided between the creditors. The submissionis accepted by this Court. According to the latest statement filed by the society dated 24.9.2009 there are 11 kinds of liabilities to be discharged by the society. The creditors includes the Bank (Petitioner in W.P.(C) No. 8366 of 2006) Federation(6th respondent in W.P. (C) No.8366 of 2006), State Government, Society's erstwhile employees and others. As per the statement prepared by the society that balance amount left after discharging all the liabilities, will come to Rs. 14,306/-. The statement showing the liabilities of the Society to be discharged as on 31.3.2005 is as follows; 1. Quilon District Co-op