1. The important question that had come up for consideration was regarding the rate of future interest allowable by the Arbitrator/ Registrar of Co-operative Societies from the date of claim/suit till the date of realization of the debt.

2. The District Co-operative Bank and the other banks constituted under the Co-operative Societies Act (for short the Act), which were advancing loans to its members and public, filed claims/suits before the Registrar/ Arbitrator under S.69 of the Act for settlement of the disputes. In all the cases the Arbitrators/ Registrars passed awards allowing future interest at the contract rate including penal interest. The above awards had been challenged by the loanees/debtors before the Co-operative Tribunal. In some cases the Co-operative Tribunal modified the award and limited future interest from the date of the claim/ suit at 6%. But in some cases the Tribunal did not interfere with the award and upheld the contract rate of interest awarded by the Arbitrator/ Registrar. The Bank as well as the loanees challenged the above orders by filing Original Petitions.

3. Loans had been advanced by different co-operative banks for different purposes t