Judgement SANKARASUBBAN, J. :- This C.M.P. is filed by the Cochin Devaswom Board, represented by its Secretary for permission to deposit the Nadavaravu gold in the stock of the Board in the Gold Bond Scheme introduced by the State Bank of India. In the affidavit accompanying the petition, it is stated as follows : The Deputy General Manager, State Bank of India, Ernakulam by his letter dated 20-12-1999 informed the Board about the Gold Bond Scheme introduced by the Bank with effect from 19-11-1999 with the approval of the Government and the Reserve Bank of India. The letter is produced as Annexure-A. Annexure-A letter gives the details of the Gold Bond Scheme. The letter further states that the Bank had already received 16 Kgs. gold from the Madurai Meenakshi Temple and 500 Kgs. of gold from individuals/Trusts/Devaswom Boards. Along with the petition, Annexure-B (SBI Gold Deposit Scheme) is also produced. 2. According to the Scheme, the tenure of the deposit will be 3 to 7 years and the percentage of interest is depending upon the number of years for which the gold is deposited. The deposit will be accepted in the form of gold bars, coins, jewellery. The jewellery will be accepted without any stones, gems, etc. and will have to be crushed by the tenderer before depositing. It is further seen that premature encashment is available. The deposit will be redeemed in gold of 24 carat and if the depositor desires, he can get repayment of Rupees also. According to the Cochin Devaswom Board, the Nadavaravu gold received from various temples are now kept in safe custody in the office of the Special Devaswom Commissioner. If this gold is deposited in the Gold Bond, the risk of stocking the gold articles can be avoided. The articles can be got purified after removing the stones and converted into primary gold at the risk and expenses of the State Bank of India. Further, at present the Nadavaravu gold articles are kept idle in the office of the Special Devaswom Commissioner without getting any income. An approximate quantity of 17.664.875 Kgs. of Nadavaravu gold is stocked in the office of the Special Devaswom Commissioner. The entire gold articles may be arranged to be deposited in the Gold Bond Scheme. Further, at present the Nadavaravu gold articles are kept idle in the office of the Special Devaswom Commissioner without getting any income. An approximate quantity of 17.664.875 Kgs. of Nadavaravu gold is stocked in the office of the Special Devaswom Commissioner. The entire gold articles may be arranged to be deposited in the Gold Bond Scheme. It is further stated that the gold required for reguilding the elephant equipments and for use in connection with Kalasam ceremonies in the temple under the Board can be made available from the subsequent receipt of Nadavaravu gold articles. 3. When the matter came, we issued notice to the State Bank of India and that the Bank entered appearance through Advocate Shri P. G. Parameswara Panicker and an affidavit was filed on behalf of the second respondent, which gives the details of the Gold Bond Scheme. 4. After going through the records, we are of the view that instead of keeping the Nadavaravu gold articles idle, it is better to deposit them in the Bank, as the Bank has come forward with a scheme for keeping the same. It is seen from the affidavit that Nadavaravu gold articles are received by different temples. 5. Hence, an account may be kept regarding the gold articles received from each temple by the Board. An inventory of the jewellery given to the Bank shall be prepared. The deposit may be made for a period of three years. The entire deposit shall be made under the supervision of the Secretary of the Cochin Devaswom Board. Order accordingly.