Court : Kolkata
Reported in : (2009)1CALLT90(HC),147CompCas231(Cal)
..... first defendant promised to pay the plaintiff 'any amount which the ubi may call upon' the plaintiff to pay 'without any reference or recourse.'25. the contract of indemnity, in such circumstances, obliged the first defendant to take over the plaintiff's liability to ubi and, probably, apply to have himself impleaded in the ..... from the moment that the time to pay passed. in the second place, it is open to the vendor to bring a suit on the contract of indemnity if upon failure to discharge the encumbrance the vendor suffered a loss. the supreme court considered the matter to be covered by the second scenario and ..... 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 actual amount of his loss.' this is the solitary sentence from the judgment that the first defendant places.19. the supreme court considered a contract of indemnity in the light of a point of limitation in the shanti swarup case. paragraph 5 of the report needs to be noticed:(5) it was ..... v. naraini) and 37 mad. 270 (nallappa reddi v. vridhachala reddi), the equitable principle laid down by the english courts has been accepted and applied to contracts of indemnity in this country. in this connection i would also refer to the case in 56 cal. 262 (osman jamal and sons ltd. v. gopal purshottam). i .....Tag this Judgment!
Court : Mumbai
..... have pointed out, mr. tendolkar contends that the law in this country is different. i have already held that sections 124 and 125 of the indian contract act are not exhaustive of the law of indemnity and that the courts here would apply the same equitable principles that the courts in england do. therefore, if the indemnified has incurred a liability and ..... before the learned arbitrator by the respondents. in this context, reference to section 124 of the contract act would be relevant which is extracted as under - 124. "contract of indemnity" defined: a contract by which one party promises to save the other from loss caused to him by the contract of the promisor himself, or by the conduct of any other person, is called a ..... "contract of indemnity". learned arbitrator recorded a finding that creation of fund is well accepted position in law which ..... an indemnified can resort to against the indemnifier. on perusal of section 124 of the contract act, it is clear that if promisee suffers any loss by conduct of the promisor or by conduct of any other person in respect of which indemnity is furnished by the promisee would be entitled to indemnify such loss against the promisor. in case .....Tag this Judgment!
Court : Mumbai
..... 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 : Supreme Court of India
Reported in : AIR1966SC1892; 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 .....Tag this Judgment!
Court : Chennai
Reported in : AIR1934Mad1; (1934)66MLJ4
..... first take article 83. for the purpose of his argument the appellant's learned counsel is prepared to assume that the suit may be viewed as one to enforce a contract of indemnity as contended for by the respondent. his case is that if so treated, under article 83 the period of limitation would commence from the time when the plaintiff is ..... to a 'charge'. or, in other words, the argument is that as a 'charge' does not import an agreement to pay as in the case of a 'mortgage', a contract of indemnity cannot be implied in the present case. we will presently consider the force of this objection. in izzat-un-nissa begam v. pertab singh their lordships of the judicial committee ..... v. trollope (1889) 39 ch. 636) should also be held to be real and not merely personal. article 83 in our opinion applies only to personal contracts of indemnity and not to a case of indemnity arising under a charge. it therefore follows that this article is inapplicable. in this connection it was also argued that even if the case is to be ..... incumbrances the vendor gets the price of his interest, whatever it may be, whether the price be settled by private bargain or determined by public competition, together with an indemnity against the incumbrances affecting the land. the contract of indemnity may be express or implied. if the purchaser covenants with the vendor to pay the incumbrances, it is still nothing more than a .....Tag this Judgment!
Court : Chennai
Reported in : AIR1965Mad159
..... he name of the assured, who may be compelled to lend it for the purpose."these two authorities clearly bring out the english principles of subrogation as implied in contracts of indemnity and the effect of subrogation as distinguished from that of transfer or assignment as regards rights of action.(8) normally, an assignment of a right of action for ..... against third persons in respect of the subject matter of insurance, and explains that the test upon which the doctrine rests is the fundamental principle that insurance is a contract of indemnity. the author draws a distinction between subrogation and transfer and says:"the doctrine of subrogation does not apply so as automatically to transfer rights of action against third ..... negligence. such a right of the insurer is, of course, conditional upon his having already indemnified the assured. 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. this right of the insurer to ..... s laws of england, simonds edn. states in paragraph 512 that--"subrogation" is a right inherent in all contracts of indemnity, and further--"the doctrine of subrogation applies to all contracts of non-marine insurance which are contracts of indemnity, such, as, for example, contracts of fire insurance, motor vehicle insurance and contingency insurance covering non-payment of money. it applies whether the loss .....Tag this Judgment!
Court : Chennai
Reported in : AIR1944Mad211; (1943)2MLJ645
..... or did not take any part in the transaction out of which the contract of indemnity arose, there can be no such duty when the indemnifier or his representative was present in person when the transaction took place and raised no ..... doubtful whether a person to be indemnified against any contingency is under any obligation or duty to see that the document out of which the contract of indemnity arises is executed or registered in such a way as to render it unassailable; but whatever may be his duty when the indemnifier could not ..... to the minor, it says nothing about costs. liability to pay costs arises however out of section 125 of the contract act and is therefore an implied term of all contracts of indemnity.7. the main ground of attack by defendants 1 to 3 against the judgment of the lower court is that ..... argued that any possession that the plaintiff could give after the decree was passed would not be 'effective' possession and that what was contemplated in the indemnity bond was 'effective' possession. the father of defendants 1 to 3 could not however in any event have had effective possession if there was any ..... -requisite of the liability of the maharajah of venkatagiri to refund the purchase money, but the learned subordinate judge seems to read more into the indemnity bond than we are able to find. he says:the surrender of possession to the maharajah contemplated by the parties, as almost a condition precedent .....Tag this Judgment!
Court : Kolkata
Reported in : AIR1986Cal356
..... court judgment in the case of united commercial bank v. bank of india (supra). in our opinion whether it is a bank guarantee or a letter of credit or contract of indemnity, the enforceability of such an instrument against the bank depends on the terms and conditions of the same. the question before the court in such a case is whether the ..... are merely instruments to reimburse. it is not even a contract of indemnity. he has submitted that irrespective of the expressions 'guarantee' or 'indemnity' used from time to time on behalf of the appellant-petitioner, it is the substance and not the form which is to be looked into ..... sometimes as bank guarantees, sometimes as indemnities and sometimes as both. mr. mitra has submitted that these are not bank guarantees at all. these ..... which provides as follows :'24. contract of idemnity defined -- a contract by which one party promises to save the other from loss caused to him by theconduct of the promisor himself, or by the conduct of any other person, is called a 'contract of indemnity'.'in the plaint and various petitions and affidavits filed on behalf of his clients, these instruments have been described .....Tag this Judgment!
Court : Mumbai
..... foreclosing /terminating or restructuring the mra or part thereof, for any reason whatsoever, including default by the renter, without prior written consent of sidbi? (note : in the deed of indemnity, the plaintiff, the defendant and subhiksha are respectively referred to as 'indemnifier', 'renter' and 'sidbi'.) 8. as noted above, subhiksha admittedly committed default in payment of the lease ..... binding on the company.? (note : the plaintiff and the defendant are respectively referred to as 'company' and 'sidbi' in the deed of hypothecation.) deed of indemnity: the relevant recitals and indemnity clause in the deed was in the following terms: and whereas, the transaction documents, inter alia, provides that in the event of the renter/ indemnifier desiring foreclosure/ ..... not happen. there is no question of the event being impossible and therefore, the contract of indemnity becoming void. upon the mra being terminated by the defendant, whether the defendant can enforce the indemnity against the plaintiff, is a question of performance of the deed of indemnity. that question can be considered by the court which has been asked to enforce ..... the learned counsel for the plaintiff to show that the agreement of indemnity is void at its inception for any reason. the ground that the consideration, on which the indemnity is premised, having become impossible, the deed of indemnity has become void, also has no merit. in a contract of indemnity, there is a promise to save the promisee from harm or .....Tag this Judgment!
Court : Mumbai
Reported in : AIR1944Bom187; (1944)46BOMLR345
..... incurred in addition between himself and his own attorney, were necessarily incurred. this being so, it would be unjust, and we should not give its full effect to the contract of indemnity entered into with him by the defendant if we were to deprive him of these extra costs.in simpson and miller v. british industries trust, limited-polikoff third party (1923 ..... ) mad. 898 and there a division bench consisting of sir john wallis, chief justice, and mr. justice seshagiri ayyar took the same view of the nature and extent of the contract of indemnity, and they expressed as their opinion that unless the defendant got attorney and client costs from the third party there would really be no ..... great respect to the learned judge it is a little difficult to understand his decision because on the facts it seems that the indemnity given by the third parties, messrs. blackwell and co., was very wide. by a contract with the corporation of leeds the defendants undertook to carry out the necessary work for applying electric power to the tramways belonging to ..... costs of the action. there is no reason why the fullest effect should not be given to the contract of indemnity between the defendant and the third party, and i do not think that such full effect would be given to that contract of indemnity if the defendant is deprived of those extra costs which he would have to pay to his solicitor which .....Tag this Judgment!