Court directed repayment of matured deposits in installments due to bank's financial crisis.

JUDGMENT

The 1^st petitioner, along with petitioners 2 and 3, who are the son and wife of the 1^st petitioner, maintains deposits with the 1^st respondent bank. They are before this Court being aggrieved by the fact that the amounts payable under the fixed deposits have not been paid to them inspite of the fact that the deposits have matured. 2. The learned counsel appearing for the

1^st respondent bank submits that the bank is going through severe financial crisis. He submits that several awards are pending execution, and unless the awards are executed, the bank will not be in a position to return the deposits. However, he submits that, if a sufficiently large number of monthly instalments are granted, the 1^st respondent bank will be in a position to repay the deposits to the petitioners.

3. Having heard the learned counsel appearing for the petitioners and the learned counsel appearing for the 1^st respondent bank, this writ petition will stand disposed of directing that the amounts payable to the petitioners towards the maturity amounts of fixed deposits maintained by them with the 1^st respondent bank shall be paid in 15 equal monthly instalments commencing from 20-02-2026. The petitioners shall also be entitled to interest at the rate applicable to the fixed deposits, till the entire amount of deposits is repaid to them. It is clarified that the interest shall be calculated on a reducing balance basis, and the petitioners shall issue necessary receipts, as requested by the bank, for each payment being made to them in terms of the directions issued above.

The writ petition is disposed of accordingly.

Sd/-