Kurian Joseph, J.

While exercising the powers under S.98 of the Kerala Co-operative Societies Act, hereinafter referred to as 'the Act', is the jurisdiction of the Arbitrator cribbed, cabined and confined only to those powers specified therein or is he to exercise those powers which are not expressly prohibited since there is a bar of jurisdiction to the civil court is the question that arises for consideration in this case.

2. Petitioners in O.P. No. 3685 of 1997 are the appellants. They were defendants in A.R.C.No. 273 of 1994 before the third respondent. The said Arbitration Case was instituted by the first respondent, the Idukki District Co-operative Bank Ltd., hereinafter referred to as 'the Bank'. The Bank sanctioned a loan of Rs. 3,03,500/- to a partnership firm by name M/s. Kalvary Milk Products. There were three partners in the firm and the first appellant was the managing partner. The loan was sanctioned on the security of 30 cents of property owned by the firm and on the collateral security of certain properties owned by the second appellant. After availing an amount of Rs. 1,64,000/- the firm was dissolved on 26.10.1988 which came into effect from 16.12.1988.