Supreme Court rules temple money belongs to deity, cannot be used to save cooperative banks. A bench comprising Chief Justice Surya Kant and Justice Joymalya Bagchi dismissed petitions filed by Kerala cooperative banks challenging the Kerala High Court’s direction to return deposits of Thirunelly Temple Devaswom within two months. The Court held that temple funds must be protected and utilized only for temple interests, not to enrich or sustain struggling banks.
CJI Kant asked what was wrong with directing that temple money be moved from a cooperative bank breathing with great difficulty to a healthy nationalized bank that can give maximum interest. He emphasized that temple money first of all belongs to the deity and must be saved, protected, and utilized only for temple interests. It cannot become a source of income or survival for a cooperative bank. Justice Bagchi added that banks were supposed to immediately release amounts when deposits matured.
Advocate Manu Krishnan G, representing the banks, argued that the abrupt direction to return deposits within two months was causing difficulties. He stated that the Devaswom had been consistently renewing FDs and there was no complaint from the customer. The banks had even started a special branch on temple premises as per request.
The High Court had directed five cooperative banks, including Thirunelly Service Cooperative Bank Ltd, Susheela Gopalan Smaraka Vanitha Cooperative Society Ltd, Manathawady Co-operative Rural Society Ltd, Manathawady Co-operative Urban Society Ltd, and Wayanad Temple Employees Cooperative Society Ltd, to close the deposits and repay them after the Devaswom complained of repeated refusals.
