JUDGMENT

This writ petition is filed by the petitioner-Secretary of the Bank, seeking to quash Ext.P6 so far as it holds that the Secretary is liable for the loss sustained to the legal heirs of Rajesh Antony, and thereby ordering to recover an amount of Rs.1,50,000/-from the Secretary and Board of Directors of the petitioner Bank, passed by the 1st respondent, Kerala Co- operative Ombudsman, Thiruvananthapuram. Material facts for the disposal of the writ petition are as follows:

2. The Umayanalloor Service Co-operative Bank is a Co-operative Society registered under the Kerala Co-operative Societies Act, 1969 and the Rules thereunder. It is engaging in Banking business and functioning under the Banking Regulation Act, and as per the directives of the Reserve Bank of India, and the State and Central Governments.

3. The Government of Kerala has introduced the Kerala Co-operative Debt Relief Project/Co-operative Risk Fund Project, in 2008. The said project has come into force in pursuance of Ext.P1, by order dated 18.11.2008. As per Ext.P1, the project is intended to redeem the liabilities existing in the loan account of a deceased loanee from the date of his death, in respect of the l