JUDGMENT : 1. The petitioner's singular contention is that, even though he is liable to pay certain large amounts to the respondent -bank, that would not operate as a disqualification against him from contesting elections to its Managing Committee, which is scheduled on 21.07.2019, because he has been granted time, under a One Time Settlement Scheme by the competent Authorities, to pay off such amounts. 2. Sri.Johnson Manayani, the learned counsel appearing for the petitioner, contends that since his client is not obligated to pay the defaulted amounts to the bank as of now, he having been permitted to pay it off in future as per the One Time Settlement offer, the rigor of Rule 44(1)(c) of the Kerala Co-operative Societies Rules (for short, 'the KCS Rules') would not apply; and therefore, that the rejection of his client's nomination by the Returning Officer is illegal and unconstitutional. 3. The submissions of Sri.Johnson Manayani certainly are very inventive but cannot gather force because the very fact that the petitioner has been given the benefit of the One Time Settlement Scheme to pay off the liability clearly establishes that he is a defaulter. In other words, if he were not a defaulter, he would not have had to apply for and obtain the benefit of the One Time Settlement Scheme. 4. That said, Rule 44(1)(c) of the KCS Rules mandates that any person who is in default of any amount to the society or to any other society would stand disqualified from contesting elections. 5. As I have already indicated above, the very factum of the petitioner having accepted the One Time Settlement offer from the society stands against his contention that he is not a defaulter because it is only if he is an admitted defaulter, would such an offer be necessary to be sought for by him and granted. In this case, the position is far worse for the petitioner because he concedes that there is an Award against him obtained by the bank in an Arbitration Case and that it is for payment of the amounts under such Award that he obtained the One Time Settlement offer from the bank. In the afore circumstances, I dismiss this writ petition confirming the order of the Returning Officer, rejecting the nomination of the petitioner, as having been issued validly and in terms of the Kerala Co-operative Societies Act and Rules.