The court applied the provisions of the Co-operative Societies Act and Rules, particularly Sections 69 and 70, to determine the appropriate course of action in view of the society's poor financial condition and the petitioner's claim for the return of the deposited amount.

1. The petitioner had worked as a teacher in a school belonging to the first respondent Society for a period from 12/6/2014 to 30/3/2019.

The petitioner had deposited an amount of Rs.12 Lakhs during the period of employment which was later converted as share in the first respondent-Society. The grievance of the petitioner is that after closure of the school, the petitioner sought return of the said amount and the first respondent is refusing to pay the same. Pursuant to the interim orders passed by this Court in this writ petition, the petitioner has received an amount of Rs.2,00,000/- out of the said amount of Rs.12 Lakhs.

2. On 20/6/2024, when the mater came up for hearing, the learned Counsel for the first respondent was directed to report as to how much amount can be paid to the petitioner and how much time is required for payment of the same.

3. Today, learned Counsel for the first respondent submitted that there are several claims of teachers against the first respondent and going by the present financial condition of the first respondent, the first respondent is unable to disburse any amount to the petitioner.

4. The learned Government Pleader on instructions submitted that the Society has been running at a loss of more than 3 Crores as per the report of the Audit Department.

5. The learned Counsel for the first respondent submitted that Muvattupuzha Co-operative Hospital is proposing to take over the property of the school with an intention to start a nursing school.

Responding to this, the learned Counsel for the petitioner submitted that such a course is not permissible as per the provisions of the Co- operative Societies Rules and the only course open as per the Co- operative Societies Act and Rules is to initiate proceedings for winding up of the Society and in such case the petitioner will get at the least proportionate amount .

6. The prayers in this writ petition is for a direction to consider and dispose Ext.P7 representation, for a declaration that the retention of the share amount worth Rs.12 Lakhs by the respondents 1 and 2 is illegal and arbitrary and further for a direction to pay the said amount to the petitioner immediately.

7. In view of the present financial condition of the society, I find that no purpose would be served by directing the first respondent to consider Ext.P6 representation. Admittedly, the amount claimed in the writ petition is due to the petitioner. In the said circumstances, I dismiss this writ petition reserving liberty to the petitioner to initiate appropriate proceedings for recovery of the amount and also for winding up.