IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE S.SIRI JAGAN FRIDAY, THE 24TH JUNE 2011 / 3RD ASHADHA 1933 WP(C).No. 28703 of 2007(P) -------------------------- PETITIONER(S): --------------- THE PERINTHALMANNA SERVICE CO-OPERATIVE BANK LTD,NO.P 534,P.O.PERINTHALMANNA, REPRESENTED BY THE SECRETARY,CHIEF EXECUTIVE OFFICER. BY ADV. SRI.P.RAVINDRAN, SENIOR ADVOCATE RESPONDENT(S): --------------- 1. THE JOINT REGISTRAR OF CO-OPERATIVE SOCIEITIES (GENERAL) MALAPPURAM. 2. P.K.UNNIKRISHAN PILLAI,PALAZHI, P.O.PERINTHALMANNA, MALAPPURAM. 3. GOVERNMENT OF KERALA REPRESENTED BY ITS SECRETARY, DEPARTMENT OF CO-OPERATION SECRETARIAT, THIRUVANANTHAPURAM. R3 BY GOVERNMENT PLEADER SMT. SMITHA SUKUMAR THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 24/06/2011, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: WP(C).No. 28703 of 2007 APPENDIX PETITIONER'S EXHIBITS: P1 : COPY OF THE AKSHAYA NIDHI DEPOSIT RECEIPT NO.27171 DATED 7.9.99. P1(a) : COPY OF THE AKSHAYA NIDHI DEPOSIT RECEIPT NO.27172 DATED 7.9.99 P1(b) : COPY OF THE AKSHAYA NIDHI DEPOSIT RECEIPT NO.27173 DATED 7.9.99 P1(c) : COPY OF THE AKSHAYA NIDHI DEPOSIT RECEIPT NO.27174 DATED 7.9.99 P2 : COPY OF THE LETTER ISSUED BY THE PETITIONER BANK P3 : COPY OF THE LETTER SUBMITTED BY THE 2ND RESPONDENT TO THE 1ST RESPONDENT DATED 22.04.2005. P4 : COPY OF THE LETTER OFTHE 2ND RESPONDENT TO THE PETITIONER DATED 22.04.2005. P5 : COPY OF THE ORDER OF THE 1ST RESPONDENT DATED 21.11.2005. P6 : COPY OF THE REVISION PETITON FILED BY THE PETITIONER. P7 : COPY OF THE STATEMENT SHOWING THE DETAILS OF THE WITHDRAWAL AMOUNT. P8 : COPY OF THE ORDER OF THE GOVERNMENT DATED 25.06.2007. RESPONDENT'S EXHIBITS: NIL //TRUE COPY// P.A. TO JUDGE smvd S. SIRI JAGAN, J. ------------------------------------------- W.P.(C) No.28703 OF 2007 ---------------------------------------------- Dated this the24th day of June, 2011 JUDGMENT The petitioner is a Co-operative Bank. They formulated a Scheme and invited deposits from the public with a promise that the deposits would be doubled after 65 months. Alternatively the Scheme provided for payment of a stipulated amount as monthly pension, if the deposit is continued with the bank. The Joint Registrar ratified the Scheme also. After 2001, rates of interest of deposits in the bank started declining, commensurate with orders of the Reserve Bank. Therefore, it was not economically viable for the bank to continue to pay the high interest promised at the time of formulation of the scheme, for the deposits after the maturity period. Therefore, the bank re-fixed the rate of interest, after the date of maturity, at 5.5.%. Against the same, the 2nd respondent filed Ext.P3 complaint before the Joint Registrar. On Ext.P3, the Joint Registrar passed an order directing that the higher rate of interest shall be continued in respect of all the deposits under the Scheme. The bank filed an appeal against the W.P.(C)No.28703/07 2 same before the Government. By Ext.P8 order, the Government modified the direction confining it to the 2nd respondent alone. It is under the above circumstances, the petitioner has filed this writ petition seeking the following relief: “i) call for the records leading to Ext.P8 and quash the same by the issue of a writ in the nature of certiorari or any other such appropriate writ order of direction.” The petitioner contends that as stated in Ext.P7, the 2nd respondent has withdrawn all the amounts deposited, of course, with 5.5.% interest, after the date of maturity. In view of the fact that the 2nd respondent has chosen to withdraw all the deposits accepting 5.5% interest, after the maturity date and he has not chosen to appear and contest this writ petition, it is not necessary to consider the writ petition on merits. Accordingly, I dispose of this writ petition holding that now that the relationship between the 2nd respondent and the petitioner has ceased to exist and the 2nd respondent has not chosen to contest the writ petition, impugned orders need not be implemented, without going into the merits of the contentions of the parties. S. SIRI JAGAN, JUDGE acd W.P.(C)No.28703/07 3 W.P.(C)No.28703/07 4