Heard Sri Anil Kumar, learned counsel for the petitioners and Sri A. Allam, learned senior counsel for the respondents.

2. At the outset, it may be noted that during the pendency of this writ application, the petitioner No. 2 had died. On the prayer of the learned counsel for the petitioner, the name of the petitioner No. 2 has been deleted and this writ application is being pursued by the petitioner No. 1 alone, being the husband of the deceased petitioner No. 2.

3. The petitioners had jointly deposited different amounts of money on different dates in between October, 1983 to August, 1990 by way of Long Term Double Deposit Scheme and each of such deposits were to mature on specified dates. The total amount so deposited by the petitioner was Rs. 1,06,705/-.

4. On initial maturity of the deposits, the petitioners renewed the sum for the further period and on subsequent maturity, the petitioners demanded payment of the amount but each time they approached the Branch Manager, he deferred the payment of the maturity amount on one pretext or the other.

5. In course of time, the Branch Manager of the respondent-Bank namely D.B.Mandal was transferred to another branch and in his place another manager has joined. Upon demand of the payment of the maturity amounts, the petitioners were informed by the successor Branch Manager that the fixed deposit amounts were allegedly pledged to the account of one Gajendra Mishra against the borrowing of overdrafts by him.

6. To the surprise of the petitioners, they realized that on 20.02.1988 when the petitioners had met the Branch Manager D.B.Mandal, he had obtained their signatures on some blank papers and deposit forms on the pretext of processing the same for payment of the maturity amount and the petitioners had subscribed their signatures on the blank papers in good faith, reposing confidence upon the manager.

7. Upon realizing that the Branch Manager D.B.Mandal, in connivance with the bank’s customer Gajendra Mishra had cheated them, the petitioners lodged an F.I.R. with the Giddi Police Station and a case under Sections 420, 467, 468, 471 and 120B of the Indian Penal Code was registered against the accused bank official and the said customer. Both the accused persons were tried and convicted for the offence under Sections 468, 420 and 120B of the Indian Penal Code and were sentenced to undergo imprisonment. The Branch Manager D.B.Mandal was thereafter dismissed from service. The appeal filed by the accused Branch Manager against the judgement of his conviction and sentence was also dismissed.

8. During this period, the respondent-Bank filed a money suit vide Money Suit No. 10 of 1996 in the Court of the Sub-Judge-I, Hazaribagth for realization of a sum of Rs. 92,980.63 together with interest @ 18% per annum with quarterly raised against the said bank customer Gajendra Mishra and the petitioners were also impleaded as proforma defendants in the suit.

9. The petitioners filed their written statements putting forth the counter claim against the Bank demanding payment of the maturity amount of the fixed deposits together with interest. In the rejoinder filed by the respondent-Bank against the counter claim made by the petitioners, the Bank has taken its stand that since the petitioners were impleaded only as proforma respondents and no relief having been sought against them, the counter claim is not maintainable. The dispute raised in the money suit could not be resolved even before the Lok Adalat due to the refusal of the officials of the respondent-Bank to return the money of the petitioners.

10. Claiming that the refusal on the part of the respondent-Bank to pay up the money belonging to the petitioners, is illegal and arbitrary, the petitioners have filed the instant writ application with a prayer to direct the respondent-Bank to forthwith pay to the petitioners the amount of Rs. 1,06,705/-alongwith maturity value and together with interest @ 18% per annum.

11. A counter affidavit