The Supreme Court on Friday took a firm stance against the use of temple funds to bolster financially distressed cooperative banks, making it clear that money belonging to a temple deity must be protected and cannot be treated as a lifeline for banks struggling to survive.

A bench led by Chief Justice Surya Kant, sitting with Justice Joymalya Bagchi, was hearing appeals filed by Mananthawady Co-operative Urban Society Ltd and Thirunelly Service Cooperative Bank Ltd challenging a Kerala High Court order directing cooperative banks to return the deposits belonging to Thirunelly Temple Devaswom.

You want to use the temple money to save the bank? the CJI asked, questioning why the funds should remain in banks that are “breathing with great difficulty” when they could instead be placed in a h

See Full Page