The Kerala High Court in the case V. Rajendra Kumar & Ors. v. State of Kerala and Ors., observed wherein the Several senior citizens holding savings bank accounts and enrolled under various fixed deposit or other schemes in the Kandala Service Co-Operative Bank approached the court seeking the disbursal of monetary benefits due to them.
The court observed that the Bank is under scrutiny for alleged irregularities which pertains to several crores of rupees and was raided by the Enforcement Directorate earlier this month.
The court stated that assailing the inordinate delay and inaction on part of the Bank in disbursing monetary benefits, it has been pointed out by the petitioner that despite lapse of considerable periods after maturity of the deposit schemes, the Bank neither released the deposits made, nor considered any of the representations filed by the petitioners in this regard.
It has also been argued by the petitioner that they are dire need of the money that was deposited for survival.
The court observed that an interlocutory application filed by one of the petitioner’s seeking disbursals of the monetary benefits on the ground of his wife’s medical emergency.
The bench of Justice N. Nagaresh in the case observed and has directed last week that the Bank include the petitioner’s fixed deposit amount of Rs.10 lacs in the priority payment list in terms of the priority fixed by the Registrar.
Accordingly, the court listed the matter for further consideration on December 01, 2023.
The counsel, Advocate S Nikhil Sankar appeared for the petitioner.