Court : Mumbai
Decided on : Jan-10-2014
..... tax authorities on 5 march 2008. that was in the amount of rs. 107.08 crores. it was in respect of a clear enforceable claim that the contract of indemnity had been executed. the indemnity covered losses which may be incurred and losses were defined clearly to include taxes, claims and demands. after the consent terms were entered into between the parties, the ..... suffered a loss, he was not entitled to sue the indemnifier and in that connection, reliance was placed on sections 124 and 125 of the contract act. the plaintiff to the suit, had been furnished an indemnity by the defendant of discharging two mortgages. in that context, it was argued on behalf of the defendant that unless the mortgagee filed a suit ..... to the judgment in case of gajanan parelkar vs. moreshwar air 1942 bombay 302 has held that unless the liability of the indemnifier is absolute, indemnity clause cannot be enforced in view of section 124 of the contract act. i do not propose to take a different view in the matter. 19. i am not inclined to accept the submission of dr ..... damage is incurred by the indemnityholder, it would be open to him to sue for the specific performance of the contract of indemnity, provided of course it is shown that an absolute liability has been incurred by him and that the contract of indemnity covers the said liability.? the law on the subject has similarly been considered in a judgment of the calcutta high .....Tag this Judgment!
Court : Mumbai
Decided on : Feb-21-2014
..... 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 : Sri Lanka Supreme Court
Decided on : Feb-06-2014
..... ? it can be seen from the above that the respondent in this case is the injured person and has to be placed in the original position as if his contracts of indemnities have been performed rightly and lawfully. it has been decided in cases in other jurisdictions referred to above that the assureds right to be indemnified for any loss or damage ..... discussed. the very foundation, in my opinion, of every rule which has been applied to insurance law is this, namely that the contract of insurance contained in a marine or fire policy is a contract of indemnity and indemnity only, and this contract means that the assured, in case of a loss against which the policy has been made , shall be fully indemnified but shall ..... assured would be fully indemnified and the appellant cannot escape the liability attached under the indemnity contract. it will be useful to understand the meaning of the word indemnity? as the whole case is based on the interpretation of the letters of indemnities involved in this appeal. the word indemnity? derives from the latin term indemnis? combined with facere? meaning to make?. (garner: a ..... his part to pay. the appellant cannot absolve himself from the liability to pay under the above clause. it was the contention of the respondent that under the letters of indemnities , the appellant undertook to indemnify the respondent against all loss and damage suffered and all claims costs and expenses made against or incurred by the respondent directly or indirectly .....Tag this Judgment!
Court : Supreme Court of India
Decided on : Jan-29-2014
..... 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 .....Tag this Judgment!
Court : Delhi
Decided on : Feb-26-2014
..... 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 ..... national bank ltd. v. b.c. mills, air1970sc1973 and in particular paras 9 and 10 thereof, which reads as follows: 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 ..... , uncertain or inchoate.20. lastly, shri chacko referred to the following observations of the hon?ble supreme court in punjab national bank vs. biram cotton mills [air1970sc1973: a contract of indemnity 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 debtor and submitted ..... 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 .39. the next submission of learned counsel .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jan-14-2014
..... (supra) where there was no insurance cover for use of the vehicle as a transport vehicle. the insurance company is made liable on a contract of indemnity that it provides through a policy and if there was a contract for covering the risk for user of the vehicle for a commercial purpose that itself must be seen as justifying a claim against the ..... caused while plying the vehicle for commercial purpose, the third party is entitled to obtain enforcement of right against the insurance company and even the insured is entitled to 100% indemnity. the denial of such a right to the claimant and exoneration of the insurance company was clearly untenable. fao no.5366 of 2011(o&m) 2 2. learned counsel refers .....Tag this Judgment!
Court : Uttaranchal State Consumer Disputes Redressal Commission SCDRC Dehradun
Decided on : Apr-30-2014
..... the contract of insurance generally belongs to general category of contract of indemnity and that the services may be for any connected commercial activity, yet it would be within purview of consumer protection act, 1986. learned counsel also ..... services of insurance company by complainants who are carrying on commercial activities, can not be held to be a commercial purpose and that the policy is taken for reimbursement or indemnity for loss which may be suffered due to various perils. it was further held that there is no question of trading or carrying on commerce in insurance policy and that .....Tag this Judgment!
Court : Punjab and Haryana
Decided on : Jan-20-2014
..... motor vehicle accident. drawing an analogy from the aforesaid observation of the hon ble apex court, when liability of the insurance company arises from a specific type of contract i.e. contract of indemnity, how can they be permitted to take benefit of compassionate assistance which results from employer-employee relationship and which is a right accruing by virtue of a welfare legislation ..... 34 helen c. rebello s case (supra), the hon ble supreme court observes as under: how can an amount of loss and gain of one contract be made applicable to the loss and gain of another contract. similarly, how an shanker gauri 2014.02.05 17:04 i attest to the accuracy and integrity of this document high court chandigarh fao -307 .....Tag this Judgment!
Court : Karnataka
Decided on : Mar-28-2014
..... nandakumar, is a matter of evidence before the mact. admittedly, the owner of the motorcycle has not fiied any petition to quash the proceeding. the contract between the insurance company and trie owner is a contract of indemnity. it is only in case if the award is passed against the owner, the insurance company is liable to satisfy the award. merely because the ..... on account of death of j.v.srinivasa. if, for any reason, the compensation is awarded, it is the insurance company ultimately liable to pay the compensation in view of contract of insurance. that is why, to quash the criminal proceedings, this petition is filed. one tiling is evident that the deceased died in a road traffic accident. whether the accident .....Tag this Judgment!
Court : Chennai
Decided on : Apr-03-2014
..... at all responsible and therefore the entire liability fastened on the 1st respondent is not correct. the terms of the insurance policy will certainly bind the 2nd respondent under the contract of indemnity, as the claimant was not a gratituous passenger.10. while explaining the effect of section 147(1)(b)(i) of the motor vehicles act, the supreme court in united ..... seat. no other person whether as a passenger or as a owner of the vehicle is supposed to share the seat of the driver. violation of the condition of the contract of insurance, therefore, is approved. the tribunal and the high court, therefore, in our considered opinion, should have held that the owner of the vehicle is guilty of the breach ..... 1st respondent along with the luggages, for consideration has to be held as true.15. in the aforesaid circumstances, the claimant cannot be called as a gratuitous person and the contract of indemnification entered into between the respondents 1 and 2 cannot be kept away for refusing the payment of compensation to the claimant by the 2nd respondent. in the aforesaid .....Tag this Judgment!