Cyriac Joseph, J.

1. This Writ Appeal is filed against the judgment dated 6.11.2003 in W.P. (C) No. 19948 of 2003. The appellants are respondents 1 and 2 in the writ petition. The respondents herein are the petitioner and the third respondent in the writ petition.

2. The first appellant, Kadakam Service Co-Operate Bank Limited, No. C.99 (hereinafter referred to as “the Bank”) is a society registered under Kerala Co-operative Societies Act, 1969. The first respondent M. Narayana Bhat, was a member of the Bank. At the time of his admission as a member of the Bank, the first respondent paid Rs. 10/- as individual share value. Later, on 27.3.1999 the general body of the Bank amended the bye-laws of the Bank, enhancing the nominal value of one share to Rs. 50/-. The amendment was approved by the second respondent, Joint Registrar of Co-operative Societies. As per the amended byelaws a period of six months was allowed to the existing members to enhance their share value. Accordingly, the Bank published a notice calling upon the existing members to pay the difference in share value in terms of the amended byelaws before 20.4.2000. On the basis of a resolution passed by the gener