DISTRICT CO-OPERATIVE BANK LTD Vs. RAHAT HUSAIN
HIGH COURT OF ALLAHABAD
DISTRICT CO-OPERATIVE BANK LTD.
Click here to view full judgement.
Mootham, C.J. -
(1.) This is an appeal by the respondent from an order of a learned single Judge dated 12-11-1954, partially allowing a Writ Petition.
(2.) The petition arose out of a dispute between two societies registered under the Co-operative Societies Act, 1912, namely The District Co-operative Bank Ltd., (hereinafter referred to as 'the Bank') and the Postal Union Co-operative Society Ltd., (hereinafter referred to as 'the Postal Union'). The Postal Union was in the practice of making loans to its members, and to enable it to do so it obtained advances from time to time from the Bank. A dispute arose between the Bank and the Postal Union as to the amount due by the latter to the former, and this dispute was referred to the Registrar, Co-operative Societies, who appointed an arbitrator. We do not know the terms of reference, but it is conceded that the dispute was one which fell within Clause (iv) of Rule 115 of the Rules made under the Act, that is a dispute "between two or more registered societies". The arbitrator, however, issued notice not only to the Postal Union but to the members of that Society who were alleged to be persons to whom it had made loans which had not been repaid.
(3.) On 24-2-1952, the arbitrator pronounced his award, the award being in two parts, namely a judgment followed by a decision which reads as follows:
"This case has come up before me for arbitration under the order of the Assistant Registrar Co-operative Societies, U.P., Allahabad. I heard case, the claim for Rs. 15,467-8-0 principal, and Rs. 5,120 interest, total Rs. 20,587-8-0, with future Interest on principal sum of Rs. 15,467-8-0 only At 7 per cent, from 3-2-'52 is hereby decreed in favour of the plaintiff society against defendant 1. The other defendants who are sureties shall also be held liable for the decretal amount with future interest as below, but the execution of this decree for the first time shall not be taken against them. Defendants Nos. 1 jointly and severally for Rs. 15,467-8-0 principal and Rs. 5,120 interest".;
Copyright © Regent Computronics Pvt.Ltd.