Supreme Court of India
Goa State Cooperative Bank Ltd. v. Krishna Nath A. (dead) through Lrs. and Others
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What the Court ordered
We hold that appellant Bank can continue the pending proceedings.
Judgment, page 15
From the headnote
Maharashtra Co-operative Societies Act, 1960: s. 109 – Termination of liquidation proceedings – Expiry of the period fixed for liquidation – Effect of, on the proceedings for recovery of dues instituted/pending as against the members – Held: Concept of restitution is a remedy against unjust enrichment or unjust benefit – When there is stay of proceedings by court, no person can be made to suffer for no fault on his part and a person who has liability but for the interim stay, cannot be permitted to reap the advantages on the basis of interim orders of the court – Thus, the members who have…
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