IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR WEDNESDAY, THE 29TH JULY 2009 / 7TH SRAVANA 1931 WP(C).No. 9011 of 2004(W) ------------------------- PETITIONER(S): --------------- THRISSUR URBAN CO-OPERATIVE BANK LIMITED, THRISSUR REPRESENTED BY ITS GENERAL MANAGER. BY ADV. SRI.P.R.VENKETESH RESPONDENT(S): --------------- 1. THE KERAL CO-OPERATIVE TRIBUNAL, THIRUVANANTHAPURAM REPRESENTED BY ITS SECRETARY. 2. SEBASTIAN, SON OF KUNNATH THOMAS, PARAVATTANI.P.O., THRISSUR DISTRICT. 3. SOPHY, WIFE OF KUNNATH SEBASTIAN, PARAVATTANI, THRISSUR DISTRICT. THIS WRIT PETITION (CIVIL) HAVING BEEN FINALLY HEARD ON 29/07/2009, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: APPENDIX PETITIONER'S EXHIBITS: P1: TRUE COPY OF AWARD PASSED ON 26.11.2001. P2: TRUE COPY OF APPEAL PETITION NO.36/2002 DT.29.6.2002. P3: TRUE COPY OF OBJECTION FILED ON 20.11.2002. P4: TRUE COPY OF ORDER OF THE TRIBUNAL DT.25.3.2003. TRUE COPY PA TO JUDGE C.N.RAMACHANDRAN NAIR, J. .................................................................... W.P.(C) No.9011 of 2004 .................................................................... Dated this the 29th day of July, 2009. JUDGMENT The petitioner is a Co-operative Bank challenging the order of the Co-operative Tribunal which has modified an Arbitration Award passed against respondents 2 and 3. Respondents 2 and 3 availed a loan of Rs.1 lakh and on application by the Bank, Arbitration Award was passed authorising the Bank to recover the loan amount with accrued arrears and interest at 22% p.a. from date of suit till date of realisation of the entire amount. The Tribunal in appeal modified the award reducing rate of interest. It is against this part of the award the Bank has filed this W.P.(C). However, no interim order was passed by this court and consequently the liability would have been settled in terms of the monthly instalments of Rs.25,000/- granted by the Co-operative Tribunal in favour of respondents 2 and 3. In any case I notice that reduction in interest is granted from date of suit till date of realisation. In other words, contract rate of interest was upheld upto date of filing the suit. I do not find any ground to interfere with the order of the Co-operative Tribunal. W.P.(C) is accordingly dismissed. C.N.RAMACHANDRAN NAIR Judge pms