- (1.) This is an application by respondent No. 5 for modifying the judgment and order of the High Court dated 5th October, 2013, whereby the writ petition was allowed and the order of the Additional Registrar Banking dated 09th June, 2011 was quashed.? This application has been made with reference to the observation of the Apex Court in Special Leave to Appeal No. 4038 of 2014 decided on 11.04.2014 wherein following order was passed: "Delay condoned. Learned senior counsel appearing for the petitioner submitted that even though they have no serious objection with regard to the order of the Tribunal but the High Court was not right in not relegating the matter to the Registrar, Co-operative Societies, after having found the order passed by the Additional Registrar (Banking) Co-operative Societies, U.P. Lucknow was illegal. Learned senior counsel appearing for the petitioner submitted that point had been urged before the High Court but was not considered. In such circumstances, liberty is granted to the petitioner to urge this point before the High Court within a period of three weeks from today, in the even of which the High Court will consider and disposed of the same, in accordance with law, within a period of one month thereafter. The special leave petition is, accordingly, disposed of."
(2.) We have gone through the order of the Division Bench dated 5th October, 2013, and we find that a categorical finding has been recorded that the award of the arbitrator was subject matter of challenge before the Co-operative Appellate Tribunal on an appeal filed by respondent No. 5.? The Tribunal upheld the finding of the arbitrator however provided that interest would be chargeable on 'yearly basis' instead of 'three-monthly basis'.?
(3.) The Bank not being satisfying with the order of the Tribunal directing levying of interest on 'yearly basis' instead of 'three-monthly basis', filed writ petition No. 12972 of 2010 before this Court.;