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Issues involved:
The correctness of the interim order passed by the court directing payment of a specific amount within a stipulated time frame; Interpretation of the provisions of the Kerala Co-operative Societies Act regarding disputes and remedies available to parties. Interim Order: The appellant, a society registered under the Kerala Co-operative Societies Act, challenged an interim order directing payment of Rs. 50 lakhs to the petitioner within two months. The petitioner, a Service Co-operative Bank, sought the disbursement of certain amounts deposited as fixed deposits with the society. Arguments: The appellant contended that the dispute regarding non-payment/refund of the deposited amount should have been raised under section 69 of the Act before approaching the court. The appellant maintained that interest was regularly paid to the petitioner as per their agreement. Counter-arguments: The petitioner argued that the deposits were short term in nature and, upon refusal of refund by the society, they resorted to court intervention for relief. The petitioner emphasized the need for immediate resolution due to the society's non-compliance. Judgment: The court held that both parties being registered societies under the Act, any disputes should be resolved as per section 69. The court criticized the petitioner for not following the prescribed dispute resolution process before seeking court intervention. It was deemed inappropriate for the court to entertain the petition without exhausting alternative remedies. Consequently, the interim order was set aside, emphasizing that interim orders are granted in aid of the main relief, not vice versa.
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