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Judgment
P.B.Suresh Kumar, J
The issues involved in these matters are one and the same and as such, they are disposed of by this common judgment.
The petitioners are self financing educational institutions run by Indira Gandhi Memorial Trust, Neelikuzhi, Kothamangalam. The tuition fees
collected on behalf of the petitioners by the Commissioner of Entrance Examinations, Government of Kerala and the stipends and grants payable to
the petitioners by the various Government departments in respect of the students belonging to Scheduled Castes/Scheduled Tribes and other backward
classes are being deposited in the bank accounts maintained by the petitioners with the Kothamangalam and Odakkali branches of State Bank of India
through the e-grantz portal of the State Government. The Trust had availed substantial amounts by way of loans from Kothamangalam branch of CSB
Bank and when the said loan accounts became non performing assets, CSB Bank instituted proceedings against the Trust for realisation of the
balance outstanding in the loan accounts, before the Debts Recovery Tribunal. It is alleged by the petitioners that though they want to transfer the
entire funds received by them in their bank accounts with State Bank of India to the loan account of the Trust in the CSB Bank, the State Bank of
India is not permitting them to do so. The petitioners, therefore, seek appropriate directions to the State Bank of India to permit them to transfer the
amounts falling to their credit in the bank accounts maintained by them to the loan account of the Trust in the Kothamangalam branch of CSB Bank.
A statement has been filed by the State Bank of India in W.P.(C) No.12994 of 2021 stating, among others, that this court interdicted the petitioners
from dealing with the amounts falling to their credit in the bank accounts maintained by them with the State Bank of India and it is on account of the
said reason that they are not permitting the petitioners to transfer the outstanding balance in their accounts to CSB Bank.
Heard the learned counsel for the petitioners, the learned counsel for the State Bank of India as also the learned counsel for the CSB Bank.
The learned counsel for the CSB Bank submitted that in the light of the various orders passed by the Debts Recovery Tribunal in the proceedings
initiated by the CSB Bank against the Trust, the petitioners are not entitled to the amounts falling to their credit in the bank accounts maintained by
them with the State Bank Of India for receiving the tuition fees collected on their behalf by the Commissioner of Entrance Examinations and the
stipends and grants payable to them by the various Government departments in respect of the students belonging to Scheduled Castes/Scheduled
Tribes and other backward classes. The learned counsel for the petitioners does not dispute the said fact. On the other hand, he pointed out that the
petitioners do not want to withdraw any amount transferred to their accounts maintained at the branches of State Bank of India and that they, in fact,
seek directions to State Bank of India to permit them to transfer the amounts in their accounts to the loan account of the Trust in CSB Bank.
It is seen that in terms of the interim order passed in W.P.(C) No.1927 of 2019 [Ext.R4(C) in W.P.(C) No.12994 of 2021], this court interdicted the
petitioners from dealing with the amounts falling to their credit in the bank accounts maintained by them with the State Bank of India. The materials on
record indicate that the said interim order was intended to enable the CSB Bank to receive the amounts which are credited to the bank accounts of
the petitioners by the Commissioner of Entrance Examinations and other departments of the State Government. As such, Ext.R4(C) interim order
cannot be an impediment at all for M/s.State Bank of India in permitting the petitioners to transfer the amounts falling to their credit in the bank
accounts maintained by them in the State Bank of India, to the loan account of the Trust in CSB Bank.
In the result, the writ petitions are disposed of directing the Kothamangalam and Odakkali branches of State Bank of India to permit the petitioners to
transfer the amounts lying in their credit in the bank accounts maintained by them in the said branches, to the loan account of the Trust in the
Kothamangalam branch of the CSB Bank. It is made clear that the petitioners will not be entitled to withdraw any amount from the said accounts until
they are so permitted by the Debts Recovery Tribunal in the proceedings instituted by the CSB Bank against the Trust.