Court : Mumbai Aurangabad
Decided on : Jul-27-2015
..... was appropriately proved, particularly in absence of payment of additional premium? d) the insurance-company straight-away cannot be held responsible for payment of compensation as the contract of insurance is always a contract of indemnity and primarily the insured is required to be held responsible and not the insurance company? 8. so far as the appeal at the behest of the owner ..... the liability of the insurance company to pay the compensation straight way holding it to be responsible is concerned, it is required to be noted that the contract of insurance is always a contract of indemnity. the order of the labour court appears to have held responsible both, i.e. the vehicle owner and the insurance company responsible for payment of the amount .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-20-2015
..... on the part of the purchaser to pay off the previous encumbrance on the property sold. under section 124 of the indian contract act "a contract of indemnity" is a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or ..... rulings of the chancery courts. this has not wiped off the common law cause of action vested in a promisee under an indemnity contract for enforcement of obligation on the indemnity contract itself by seeking a direct decree against the promisee (promisor?). to such decree he was entitled at common law only upon ..... sheodeni singh and venkatanarayaniah v. subramania iyer. . 5. it was then contended by mr. b. c. misra that even if there was a contract of indemnity the cause of action for the plaintiff arose on february 4, 1937, when the final mortgage decree was passed and not on february 25, 1943 when ..... : air1940bom161 , which both cases are referred to in the judgment of the learned judge. in my view, on a true construction of the contracts of indemnity admitted between the parties, it was permissible for the plaintiff to call upon the defendants to pay the amounts claimed in the order dated february 28 ..... no dispute between the parties that in respect of the goods sold and delivered by the plaintiff to the defendants during the above period a contract of indemnity in the terms contained in the above letters existed. 4. in connection with the sales tax relating to the goods sold by the plaintiff .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-11-2015
..... to in section 23a. 14. the first respondent was and is therefore entitled to retain the amounts in a suspense account and to treat the same as payment under the contract of indemnity only in the event of it ultimately being unable to recover the amounts from the debtor's. 15. mr. patwardhan reiterated that in the event of the first respondent ..... admitted position that the premium had been debited to the loan accounts and had not been paid by the first respondent. 9. in a contract of indemnity the indemnity holder is not bound to sue the indemnifier. the indemnity holder may sue only the debtor or only the indemnifier or both. in law there is nothing that prevents an agreement or arrangement between an ..... the first respondent is now barred from recovering the same amount over again from the appellant's and the other respondents. he submitted that the contract between the first respondent and the dicgc is a contract of indemnity and to the extent that the first respondent is reimbursed by the corporation the benefit to the extent thereof must be passed over to the ..... be enforced. in particular we do not find anything that prohibits arrangement whereby the indemnifier pays the amount due under the contract of indemnity subject to the condition or on an understanding between the indemnity holder and the indemnifier that the indemnity holder will continue to pursue its remedies against the debtor and in the event of it recovering the amounts from the debtor .....Tag this Judgment!
Court : Mumbai Aurangabad
Decided on : Dec-17-2015
..... pay the interest. in the present matters, there was no such negative clause, for contracting out. 17. contract of insurance is a contract of indemnity and it is between only the insurer and the assured. there is no privity of contract between the insurance company and the employee who is entitled to make claim against the ..... has not disputed that it is settled law that the insurance company is liable to pay interest on the compensation under the policy unless there is contracting out in respect of such interest. though there is such liability, for filing appeal, only the compensation amount needs to be deposited by the ..... promise to identify applies and that includes even costs of the proceeding. it is, however, subject to conditions laid down in section 125 of the contract act. this provision also shows that the insurance company is liable not only to pay the compensation but also the interest which is payable on the ..... that it has independent identity. it can be said that only when award made is in respect of liability which was not undertaken under the contract by the insurer, the insurer has independent right to challenge the award in view of provisions of sections 30 and 19 of the act. the ..... power to decide the matter even against the insurer, the insurer gets right to challenge the decision. 16. the liability of the insurer under the contract of policy is liability to indemnify the employer on the basis of policy. as per provision of section 147 of the motor vehicles act, 1988 ( .....Tag this Judgment!
Court : Mumbai Goa
Decided on : May-07-2015
..... % of the same has to be reduced from gross total income. ? this court in pfizer ltd. (supra) has further in para 11 thereof held as under: ??a contract of insurance is a contract of indemnity. the insurance claim in essence indemnifies assessee for the loss of the stock in trade. the indemnification that is made to the assessee must stand on the same .....Tag this Judgment!
Court : Mumbai Goa
Decided on : Dec-18-2015
..... the driver/ rider of the vehicle. this is because, the very basis for claiming such compensation is tortuous liability of the driver/ rider and thereafter, on the basis of a contract of indemnity in the form of the policy of insurance, the insurance company can be made liable. 16. in the present case, indisputably, there was no prosecution launched or chargesheet filed .....Tag this Judgment!
Court : Mumbai
Decided on : Jan-05-2015
..... corrective action. the letters categorically stated that the willful neglect in performing as per the milestone schedule would compel respondent no. 1 to take mitigation measures under the contract such as performance by substitution, which expenses would be back-charged to the petitioner. this submission is further belied by the tabular chart with details regarding some ..... annexure thereto shall prevail. ? 10. the afore-stated clauses establish that all the three amendment agreements were executed without prejudice and were not in derogation to the original contract. the additional advance payments were made without prejudice to any of the rights of the respondent no.1 under the agreement and/or any attachments, annexures thereto. the ..... exceed 15% of the final contract price (as amended by any supplement), save for all third party claims, ..... 3 and 13.6. notwithstanding any provision in this contract to the contrary, contractors aggregate liability for all losses, claims or damage arising out of, under or in connection with this contract, its performance or breach (including claims for an indemnity and costs under clause 13.1) whether such liability arises in contract, tort (including negligence) or otherwise shall not .....Tag this Judgment!
Court : Mumbai Goa
Decided on : Oct-01-2015
..... parties shall have any claim for damages against the other. thus, it cannot be accepted that clause 12.5(i) is merely or only an indemnity clause. this submission overlooks the fact that basically it is a termination clause and the concluding part of 12.5(i) only indemnifies the party against ..... arbitral tribunal) are: (a) whether the claim is a dead (long-barred) claim or a live claim. (b) whether the parties have concluded the contract/ transaction by recording satisfaction of their mutual rights and obligation or by receiving the final payment without objection. 22.3) the issues (third category) which the ..... not agreed to clear the outstanding amount of tfci and had only agreed to pay consideration price of 50% share capital of twhl on a spot delivery contract basis i.e. as against delivery of share certificates to them. the learned senior counsel has referred to the definitions of completion ?, the completion date ..... and resorts including bbr for a period of 10 years. this was subject to certain other conditions which included the termination of the hotel management contract by the second respondent with spp. under the material term of the mou the petitioner no.1 was to purchase 50% of the equity ..... the first respondent. the bbr is situated at bogmalo, goa and was being managed by sarovar park plaza group (spp) erstwhile under a hotel management contract dated 1/07/1994. although bbr was managed by a professional hotel operator, it was said to be loosing business and money. 5. in the .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-12-2015
..... made a bad bargain, informed the seller that he would not complete the main agreement unless the subsidiary agreement was cancelled and replaced by a true guarantee by way of indemnity guaranteeing the price of a part of the shares. the seller was anxious to complete the transaction for keeping public confidence. he chose to avoid the litigation and gave the ..... with the coercive party threatens to do something that is a breach of common law or a statutory duty. it may be a crime, a tort or a breach of contract. a contract executed under such pressure may be set aside by the other party. however the position is different where what is threatened is not an unlawful act. it is not ..... 'lawful act duress' was held to be not necessarily objectable. it was observed that extension of the right to voidability by coercion involving 'lawful act duress' caused in a commercial contract under the bona-fide claim would have far reaching implications. ??it would introduce a substantial and undesirable element of uncertainty in the commercial bargaining process. moreover, it will often enable ..... law on duress. in modern cases the pressure exercised to constitute duress is shown as 'illegitimate pressure'. anson considers that the various pressures must be distinguished. the pressure which the contracting party is not expected to submit to is an illegitimate pressure as against legitimate pressures which the law does not take into account. consequently illegitimate pressure may not be unlawful .....Tag this Judgment!
Court : Mumbai
Decided on : Mar-04-2015
..... of 20 document made by the appellant to the bank of india was a payment under reserve while that of reserve as well as against the letter of guarantee or indemnity executed by it. a payment 'under reserve' is understood in banking transactions to mean that the recipient of money may not deem it as his own but must be prepared ..... ltd. case. fourthly, a larger bench of the tribunal in the lucas tvs ltd. case held that the expression ??paid ? should be construed as ??ought to have been paid ? or ??contracted to be paid ? . since these two decisions failed to consider the decisions of the hon'ble apex court and of the hon'ble gujarat and patna high courts, they have ..... if the suit were to be brought by the bank of india, the high court would not have granted any injunction as it was bound by the terms of the contract. what could not be done directly cannot be achieved indirectly in a suit brought by the plaintiffs. 51. even if there was a serious question to be tried, the high .....Tag this Judgment!