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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: himachal pradesh Page 1 of about 222 results (0.023 seconds)

Jul 20 2007 (HC)

Hpsidc Vs. Tej Straw Boards (P) Ltd. and ors.

Court : Himachal Pradesh

Reported in : AIR2008HP27,2007(3)ShimLC10

..... section 29 and on their taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the contract of indemnity, only when the sale proceeds were found to be insufficient.10. in the instant case, it is an admitted position that ..... the similar situation and it was held that the aforesaid view was entirely erroneous. it was further held that:.it is settled law that a contract of indemnity and/or guarantee is an independent and separate contract from the main contract. thus the question which they required to address themselves, which unfortunately they did not, was when does the right to sue on the ..... the balance could have been filed. merely because the corporation acted under section 29 of the financial corporations act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... indemnity arose. in our view, there can be only one answer to this question. the right to sue on the contract of indemnity arose only after the assets were sold off. it is at that stage only that a suit for recovery of .....

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Feb 25 2005 (HC)

The Himachal Pradesh State Industrial Development Corporation Ltd. Vs. ...

Court : Himachal Pradesh

Reported in : AIR2005HP39

..... . smt. pawna (civil appeal no. 1971 of 1998) with slp nos. 1760-1761 of 1998 decided on 18-12-2003. their lordships held :'the right to sue on the contract of indemnity arose only after the assets were sold off. it is only at that stage that the balance due became ascertained. it is at that stage only that a suit for ..... contract of indemnity, only when the sale proceeds were found to be insufficient.'21. in the present case, assets of the defendants-company were ..... recovery of the balance could have been filed. merely because the corporation acted under section 29 of the financial corporation act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... contract. it may be that on the corporation taking action under section 29 and on their taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the .....

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Jan 01 2009 (HC)

H.P. Financial Corporation Vs. Smt. Manmohan Kaur and ors.

Court : Himachal Pradesh

..... the loanee, because it is only then that the amount recoverable, under the contract of indemnity, becomes known.9. in view of the above stated position, appeal is allowed. judgment and decree of the learned single judge are ..... 7. interpreting the emphasized portion of the clause, the hon'ble supreme court held that this portion was in the nature of a contract of indemnity and it was enforceable only after the deficiency in the amount became known, upon adjustment of the sale proceeds of the mortgaged property. ..... 8. hon'ble supreme court in the aforesaid case has held that limitation for enforcement of the aforesaid kind of contract, which is in the nature of contract of indemnity, begins to run only after the mortgaged property is sold and the sale proceeds are adjusted against the liability of ..... referred to hereinabove, respondents had undertaken to indemnify the appellant for the amount remaining deficient, after sale of the hypothecated truck and this indemnity clause became operative only after the truck was sold and sale proceeds thereof were adjusted against the loan and thereafter the deficiency became known. ..... the ratio of the judgment applies to the case in hand on all fours. as already noticed clause v(2) of the hypothecation deed, ext.p2, is in the nature of a contract .....

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Sep 15 2008 (HC)

H.P.S.i.D.C. Vs. Manson India Pvt. Ltd. and ors.

Court : Himachal Pradesh

Reported in : 2008(3)ShimLC300

..... section 29 and on their taking possession they became deemed owners. the mortgage may have come to an end, but the contract of indemnity, which was an independent contract, did not. the right to claim for the balance arose, under the contract of indemnity, only when the sale proceeds were found to be insufficient.22. sh. ajay kumar has placed reliance on clause 16 of ..... .e. that the loan transaction and the mortgage deed, are one composite transaction which was inseparable is entirely erroneous. it is settled law that a contract of indemnity and/or guarantee is an independent and separate contract from the main contract. thus the question which they required to address themselves, which unfortunately they did not, was when does the right to sue on the ..... that a suit for recovery of the balance could have been filed. merely because the corporation acted under section 29 of the financial corporation act did not mean that the contract of indemnity came to an end. section 29 merely enabled the corporation to take possession and sell the assets for recovery of the dues under the main ..... indemnity arose. in our view, there can be only one answer to this question. the right to sue on the contract of indemnity arose only after the assets were sold off. it is only at that stage that the balance due became ascertained .....

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Jan 04 1996 (HC)

Anil Kumar and ors. Vs. Central Bank of India and ors.

Court : Himachal Pradesh

Reported in : AIR1997HP5

..... state bank of india, air 1986 ori 247.23 chapter viii of the indian contract act, 1872 (hereinafter referred to as the 'act) deals with indemnity and guarantee. section 124 defines the expression 'contract of indemnity', section 125 defines 'rights of indemnity holder when sued; section 126 defines the expressions 'contract of guarantee', 'surety', 'principal debtor' and 'debtor'. section 127 provides regarding the ..... or performance and surety's right to benefit of creditor's securities respectively; sections 142 to 144 deal with the guarantee; section 145 deals with the implied promise to indemnity-, surety; section 146 deals with co-sureties liable to contribute equally and lastly section 147 deals with liability of co-sureties bound in different sums. thus, it is ..... next contended that the first appellate court was not justified in discharging the liability of the appellants once it had invoked the provisions of sections 139 and 141 of the contract act in discharging second surety, namely, santokh singh respondent. in support of his contention, he placed reliance in state bank of saurashtra v. chitranjan rangnath, air 1980 ..... in these circumstances, the court was justified in fastening' the liability qua the other surety. (ii) the court having invoked provisions of sections 139 and 141 of the contract act, in discharging one of the sureties, whether in the circumstances the lower appellate court was justified in not discharging the liability of the appellant. 9. during the pendency .....

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Mar 03 2009 (HC)

Sh. Beli Ram and National Insurance Company Ltd. Vs. Sh. Rajinder Kuma ...

Court : Himachal Pradesh

Reported in : 2009(2)ShimLC12

..... the petitioner is entitled and from whom? ... opp3. whether the petitioner was having valid and effective driving licence at the time of accident? ...opr-24. whether there is any contract of indemnity between the parties? opr-2.the opportunity to lead evidence was afforded to the parties.10. appreciating the material on record the commissioner decided issue no. 1 in the affirmative ..... by this hon'ble court reported in 2004 (2) slc 23 ?2. whether the ld. commissioner is right while fastening liability of interest part on the appellant in view of contract between the appellant and the respondent no. 2 which clearly says that the insurer has to indemnify the appellant in case of any accident under the workmen's compensation act .....

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Mar 28 2005 (HC)

United India Insurance Co. Ltd. Vs. Chander Prabha Bhatt and ors.

Court : Himachal Pradesh

Reported in : III(2005)ACC688,2005ACJ1972

..... in an accident, he does not acquire any right to get compensation from the insurance company under the policy issued to him. insurance policy issued by the respondent is a contract of indemnity to satisfy the conditions laid down under section 95 of the act. the ingredients of the law of insurance are nowhere provided in the special statute. necessarily therefore, the ..... policies cover various types of risk including the own damage to the vehicle. in that event extra premium is to be paid and it is by way of a mutual contract between the insurance company and the owner that such risk is covered. in the present case, no clause has been pointed out in the policy, exh. rx, which shows that ..... first established against the insured. it is only in that case the liability of the insurance company would arise. the insurance company or the insurer is one party to the contract, the insured or the policyholder is another and the claims made by others in respect of negligent use of the vehicle would be claims by third parties. thus, it is ..... . in mathew koshy v. oriental insurance co. ltd., 1989 acj 21 (kerala), a division bench of kerala high court held as follows:'a contract of insurance in the widest sense of the term may be defined as a contract whereby one person called the insurer' undertakes in return for the agreed consideration called 'premium' to pay to another person called the 'assured .....

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Mar 23 2004 (HC)

National Insurance Co. Ltd. Vs. Pushpa Devi and ors.

Court : Himachal Pradesh

Reported in : III(2004)ACC317,II(2005)ACC514,2005ACJ600

..... 's compensation act. the above said provision accepts the requirement of a policy in the cases contemplated thereunder and it has also not excluded the insurer from entering into a contract of indemnity to cover circumstances and conditions countenanced by the provision. because of statutory entitlement, an employee or his legal representatives are entitled to exercise option under section 110-aa to .....

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Oct 26 1990 (HC)

Kanta Devi and anr. Vs. Dayal Singh and ors.

Court : Himachal Pradesh

Reported in : I(1991)ACC415,1991ACJ336

..... insurable interest to which the policy in his favour can relate and continue to have force affecting thereby the basis of contract of insurance as also the specified vehicle to which the indemnity relates, as is clear from the details required to be set out in the policy. it is with reference to ..... the moment the insured parts with his vehicle, the policy relating to it lapses, inasmuch as the vehicle is the subject-matter of the very foundation of contract of insurance. neither section 96 (1) nor section 96 (2) of the act results in a policy of motor insurance being continued to operate and ..... act, the liability of the transferor subsists and the policy is in operation, so far as it relates to the third party risks.13. a contract of insurance is between the insurer and the insured, the subject-matter is the vehicle specified in it and it is the risk arising out of ..... that the insurer undertakes to compensate against. where such a contract provides for indemnity to the assured against third party risks, the third party who is a stranger to the contract, cannot enforce it against the insurer. neither the general principles of law relating to contracts, nor the common law gives third party a cause ..... those details and the history of vehicle and its owner, including claims or no claims in the past that premium payable on the insurance is determined and the contract is formed .....

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Apr 11 1994 (HC)

United India Insurance Co. Ltd. Vs. Smt. Bimla and ors.

Court : Himachal Pradesh

Reported in : 1994ACJ878,AIR1995HP1

..... interest to which the policy in his favour can relate and continue to have force affecting thereby the basis of contract of insurance as also the specified vehicle to which the indemnity relates, as is clear from the details required to be set out in the policy. it is with reference ..... the insured parts with his vehicle, the policy relating to it lapses, inasmuch as the vehicle is the subject-matter of the very foundation of contract of insurance. neither section 96(1) nor section 96(2) of the act results in a policy of motor insurance being continued to operate and ..... gujarat 164) (fb) (shantilal mohanlal v. aher bawanji malde), it has been held that after the sale of the vehicle, there is no subsisting contract between the insurance company and the transferee, therefore, the insurance company is not liable to indemnify the transferee and the claimants are not entitled to recover any ..... the insurer undertakes to compensate against. where such a contract provides for indemnity to the assured against third party risks, the third party who is a stranger to the contract, cannot enforce it against the insurer. neither the general principles of law relating to contracts, nor the common law gives third party a ..... to those details and the history of vehicle and its owner, including claims or no claims in the past that premium payable on the insurance is determined and the contract is .....

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