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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: supreme court of india Page 1 of about 6,576 results (0.110 seconds)

Jan 03 1967 (SC)

Lala Shanti Swarup Vs. Munshi Singh and ors.

Court : Supreme Court of India

Reported in : AIR1967SC1315; 1967(0)BLJR483; [1967]2SCR312

..... the covenant 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 by the ..... and venkatanarayaniah v. subramania iyer. 74 i c 209. 6. 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 the plaintiff ..... purchase the vendor's property but also one to relieve the vendor from the liability of the mortgage, and in that sense there was an implied contract of indemnity in favour of the vendor. it follows therefore that article 83 of the limitation act applies to this case and as the sale deed is a ..... the purchaser ought to have paid off the mortgage. in the second place, it is also open to the vendor to bring a suit on the contract of indemnity if as a result of the failure of the purchaser to discharge the encumbrance the vendor incurs a loss. it was contended on behalf of the ..... c. misra put forward the argument that a provision in a conveyance whereby the purchaser agrees to pay off an encumbrancer does not give rise to any contract of indemnity and that the appropriate article of limitation act was article 116 and not article 83 and time began to run from the date from which the covenant .....

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Oct 03 1966 (SC)

Srinivas Gupta Vs. Hindustan Commercial Bank Ltd.

Court : Supreme Court of India

Reported in : [1967]37CompCas434(SC)

..... brothers for the sum of rs. 35,000 which had been secured by the second mortgage still remains. as such the appellant is liable under the contract of indemnity contained in clause 13 to make good the loss yet in spite of the compromise in the second execution application. learned counsel for the appellant has ..... not in our opinion enough to absolve the appellant of the liability which lay on him under clause 13 of the agreement. the liability under the contract of indemnity contained in that clause was to make good the loss to be caused to the bank in circumstances like the present to which clause 13 is ..... that the tins of ghee contained rotten ghee or water, the appellant became liable under the contract of indemnity contained in clause 13 of the agreement. under that clause it was his duty ,to see that goods pledged to the bank as security were not ..... has come before us.6. we are of opinion that there is no force in this appeal. clause 13 of the agreement is clearly a contract of indemnity by which the bank is indemnified in connection with certain matters mentioned therein. it has not been and cannot be disputed that when it was found ..... the bank then went in appeal to the high court. the high court allowed the appeal and held that clause 13 of the agreement was a contract of indemnity and mere execution of the two mortgages would not absolve the appellant of the responsibility that lay on him under clause 13. it further held that the .....

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Jul 06 2006 (SC)

State Bank of India and anr. Vs. Mula Sahakari Sakhar Karkhana Ltd.

Court : Supreme Court of India

Reported in : AIR2007SC2361; 2006(5)ALD35(SC); 2006(3)AWC3124(SC); 2006(6)BomCR143; [2006]132CompCas565(SC); 2006(2)CTLJ1(SC); JT2006(6)SC152; 2006(6)MhLj257; 2006(6)SCALE600; (2006)6SCC

..... was erroneously described as a preamble stating:.the preamble of the document in question creates an impression that the said document is a contract of indemnity and not a contract of guarantee.9.4. the high court, furthermore, inserted some words in the said document which in fact were not there, as for example, in paragraph 31 of ..... . (now reliance energy ltd. v. fenner india ltd. and anr. : air2006sc1148 ). however, in this case, we have no doubt in our mind that the document in question constitutes a contract of indemnity and not an absolute or unconditional bank guarantee. the high court, therefore, erred in construing the same to be an unconditional and absolute bank guarantee.10. rate of interestcontention of ..... or placed on the record by the appellants. the officer of the bank stated before the court that the document in question was intended to be a contract of guarantee and not a contract of indemnity. the written document (exhibit-46) as quoted above lays emphasis on the preamble as under....yet again, in the said paragraph, the operative portion of the document ..... appearing on behalf of the appellants submitted that:(i) on a true construction of the document dated 4th september, 1985, it would be seen that the same is a contract of indemnity and not a bank guarantee.(ii) the high court committed a manifest error in considering the oral evidence adduced by the parties in construing the said document dated 4th september .....

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Feb 17 2010 (SC)

Economic Transport Organization Vs. Charan Spinning Mills (P) Ltd. and ...

Court : Supreme Court of India

Reported in : JT2010(2)SC271,2010(2)SCALE427,2010(2)LC1004(SC)

..... to maintain a suit in his own name against third parties.14. subrogation, as an equitable assignment, is inherent, incidental and collateral to a contract of indemnity, which occurs automatically, when the insurer settles the claim under the policy, by reimbursing the entire loss suffered by the assured. it need not ..... high court in vasudeva mudaliar v. caledonian insurance co. air 1965 mad. 159 thus:in other words arising out of the nature of a contract of indemnity, the insurer, when he has indemnified the assured, is subrogated to his rights and remedies against third parties who have occasioned the loss. the ..... transferred to and vested in the insurer. the equitable assignment of the rights and remedies of the assured in favour of the insurer, implied in a contract of indemnity, known as 'subrogation', is based on two basic principles of equity: (a) no tort-feasor should escape liability for his wrong; (b) ..... , could file a complaint under the act, even after the insurer had settled its claim in regard to the loss.11. a contract of insurance is a contract of indemnity. the loss/damage to the goods covered by a policy of insurance, may be caused either due to an act for which the ..... no dispute that the doctrine of subrogation in insurance rests upon the common intention of the parties and gives effect to the principle of indemnity embodied in the contract. furthermore, your lordships drew attention to the fact that it is customary for the assured, on payment of the loss, to provide .....

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Sep 17 1969 (SC)

Punjab National Bank Ltd. Vs. Shri Vikram Cotton Mills and anr.

Court : Supreme Court of India

Reported in : AIR1970SC1973; [1970]40CompCas927(SC); (1970)1SCC60; [1970]2SCR462

..... called the 'creditor'. a guarantee may be either oral or written.10. a promise to be primarily and independently liable for another person's conduct may amount to a contract of indemnity. a contract of guarantee requires concurrence of three persons- the principal debtor, the surety and the creditor-the surety undertaking an obligation at the request express or implied of the principal ..... agreement between the bank and ranjit singh.9. section 124 of the indian contract act defines a 'contract of indemnity'. a contract by which one party promises to save the other from loss caused to him by the conduct of the promisor himself, or by the conduct of any other ..... worked out under the scheme.8. in reaching its conclusion that the bond executed, by ranjit singh in favour of the bank was of the nature of a contract of indemnity and not a contract of guarantee, the high court was impressed by the circumstance that the company was not a party to the bond, and that the bond was only a bilateral ..... debtor. the obligation of the surety depends substantially on the principal debtor's default; under a contract of indemnity liability arises from loss caused to the promisee by the conduct of the promisor himself or by the conduct of another person.11. in the present case the company did .....

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Aug 01 2008 (SC)

Samundra Devi and ors. Vs. Narendra Kaur and ors.

Court : Supreme Court of India

Reported in : 2008ACJ2616; AIR2008SC3205; 2008(4)AWC3206(SC); IV(2008)CPJ25(SC); 2009(1)MhLj38; (2008)6MLJ1046(SC); (2009)153PLR145; RLW2009(1)SC361; 2008(11)SCALE36; 2008AIRSCW5416; 2008(9)SCC100; 2008ACJ2616; 2008(11)SCALE36; ILR2008(4)Kar4664; 2008AIRSCW5416; 2008(9)SCC100; 2008ACJ2616; 2008(11)SCALE36; ILR2008(4)Kar4664

..... . the owner of the vehicle as also the driver thereof were, thus, principally liable to pay compensation to the dependents of the deceased.14. a contract of insurance as is well known is a contract of indemnity. in a case of accident, the primary liability under law for payment of compensation is that of the driver. the owner of the vehicle also becomes ..... of the vehicle and therefore liable to pay the compensation?(ii) if so, what will be the just compensation?7. the high court, on perusal of the driving licence, the contract of insurance as also the testimonies of witnesses examined on behalf of the parties, held:8. we accordingly hold that the insurer having established that the driver was not `duly ..... costs of repairing of the maruti car, were also granted.(c) the driver of the truck did not possess a valid driving licence and, therefore, breach of policy of the contract of insurance was established as a result whereof the respondent no. 3 was not liable to reimburse the owner of the vehicle any such amount payable by him by way ..... vicariously liable therefor. in a case involving a third- party to the contract of insurance in terms of section 147 of the motor vehicles act, 1988 providing .....

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Oct 17 2008 (SC)

Rahee Industries Ltd. Vs. Export Credit Guarantee Corpn. of India Ltd. ...

Court : Supreme Court of India

Reported in : [2008]146CompCas373(SC); JT2008(12)SC244; (2009)2MLJ458(SC); 2008(13)SCALE261; (2009)1SCC38; 2009(1)SCC138

..... increased recovery while the exporter contended that the guarantor was only entitled to what it had paid out as indemnified. the court of appeal recognized the contract as one of indemnity and treated it like a policy of insurance. before the court of appeal, the exporter contended that if there is recovery in a subrogated claim ..... . in the present case we are concerned with the policy of insurance dated 27.1.87. by its very nature it was a contract of indemnity. in the present case, the nature of the contract is not in issue. it was in issue in the case of l. lucas ltd. (supra). in the circumstances, we do ..... the policy in its entirety, we find that there is a dichotomy in it. the subject-policy in this civil appeal is a contract. by nature it is an indemnity. the contract is in two major parts. the first part which commences from clause 1 to clause 13 contemplates an ..... the fortuitous profits to be given to the guarantor then the nature of the contract of guarantee in that case would have ceased to be one of indemnity against a percentage of loss and in that event it would become a profit sharing contract. this observation has been made by viscount dilhorne at page 898 of the ..... indemnity against a percentage of a loss whereas the second part of the contract commencing from clause 14 to clause 16 contains provisions enabling recoupment of that loss.14. in this case the invoice value as on .....

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Mar 29 1966 (SC)

Ellerman and Bucknall Steamship Co. Ltd. Vs. Sha Misrimal Bherajee

Court : Supreme Court of India

Reported in : AIR1966SC1892; [1966]SuppSCR92

..... moneys against goods which were not the goods agreed to be sold and which were not consigned according to the contract. the very fact that the second defendants have obtained an indemnity for issuing the bills of lading without disclosing the real state of facts would show their consciousness that they ..... the ship owners had to make good the loss. the plaintiffs sued the defendants under the indemnity, the benefit of which had been assigned to them. the defendants refused to pay, alleging that the contract of indemnity was illegal, because it had as its object the making by the ship owners of a ..... obviously intended, in collusion with the seller, to enable him to operate upon the credit with the bank. this collusion is also apparent from the indemnity bond they took from the seller to guard themselves against the consequences of the said representation. all the elements of deceit are present. 26. the ..... the learned city civil judge reads : 'did the second defendant act bona fide throughout in issuing the bills of lading and in taking an indemnity from the shippers ?'. 10. the judgment of the learned city civil judge discloses that the question of misrepresentation by collusion was argued and the learned ..... in reused fibre drums. the bills of lading issued by the ship owners described the drums simply as drums. after taking a letter of indemnity to cover against any loss, the ship owners issued clean bills of lading. the seller negotiated the bills of lading with the marine midland trust .....

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Jul 28 2010 (SC)

M/S Sumitomo Heavy Industries ... Vs. Oil and Natural Gas Company

Court : Supreme Court of India

..... be read strictly and narrowly. as far as this submission is concerned, one has to note that as per section 124 of the indian contract act, a contract of indemnity is one under which one party promises to save the other from loss caused to him by the conduct of the promisor or any other ..... person. thus in the present case, under clause 5.10.5 of the general conditions of contract, the appellant has given the indemnity to the respondent against all losses that the respondent may suffer out of the negligence of appellant or their sub-contractor. clause 17. ..... approach should be adopted while examining the scope and application of clause 17.3. the respondent submitted that this clause was in the nature of an indemnity and that it must be construed strictly and narrowly. this view is also accepted by the division bench. the division bench observed as follows:"the ..... ) harmless against all losses and claims, including such claims arising out of the negligence of the contractor or its subcontractors, and the particulars of this indemnity are specified in this clause.15. clause 5.11.3. lays down that the contractor shall observe and comply with and shall ensure that all his ..... to extra cost arising on account of change of law. it cannot be compared with indemnity for loss due to conduct of the promisor or of a third party.30. mr. tankha submitted that clauses in the contract have to be given a literal interpretation. he relied upon the judgments of this court .....

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Jan 29 2014 (SC)

Deepak Bhandari Vs. H.P.State Indusl.Dev.Corp.Ltd.and ors.

Court : Supreme Court of India

..... act, 1963 which corresponds to old articles 115 and 116 of the old limitation act, 1908. the right to sue on a contract of indemnity/ guarantee would arise when the contract is broken.23. therefore, the period of limitation is to be counted from the date when the assets of the company were ..... 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. in this case, it is ..... 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 ..... that merely because the corporation acted under section 29 of the state 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 ..... 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 .....

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