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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: drat kolkata Page 1 of about 1 results (0.012 seconds)

Apr 26 2001 (TRI)

Shri Ram Sakal Singh Vs. State Bank of India and 5 ors.

Court : DRAT Kolkata

..... the cold storage of the partnership firm of which, the present appellant arid others were the partners. it is the partners who executed the letter of indemnity asserting that in the event of loan remaining unpaid, they would pay to the bank the same together with stipulated interest. the said document also ..... partner rather partnership was constituted with three persons namely ram sakal singh, ram deo singh and pritilata singh.19. a scrutiny of the letter of indemnity dated 10.3.1979 discussed earlier will also reveal that defendant no. 3 is not a party to the same. so also the letter of undertaking ..... to potato growers individually and the quantum, if taken separately, is also less than 10 lakhs in each case. on a scrutiny, the letter of indemnity will reveal the circumstances in which the loan was given to them and at whose instance and under what conditions. it appears from the said document ..... no. 1 namely bank has argued that potato growers are not necessary parties since the loan was given on the basis of the letter of indemnity and guarantee executed by the partners of the firm.besides, the objection regarding alleged known joinder of party was not taken at the earliest stage and ..... are not parties to the claim case and as such they being the principal debtors are necessary parties. he also relied on section 126 of the contract act and a decision reported in air 1983 noc (calcutta). it is his contention that individual potato growers took the loan separately and there are .....

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