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Judgment Search Results Home > Cases Phrase: pawnee contract Court: drat madras Page 1 of about 53 results (0.019 seconds)

Aug 28 2002 (TRI)

Medichem Industries Vs. Bank of Baroda

Court : DRAT Madras

Reported in : II(2003)BC29

..... bank cannot retain the seized goods and file the suit for recovery of the entire amount.section 176 of the indian contract act, 1872, deals with the rights of a pawnee and provides that in case of default by the pawner the pawnee has, (1) the right to sue upon the debt and to retain the goods as collateral security, and (2) the ..... place the pawner is entitled to redeem the goods on payment of the debt. it follows therefore that where a pawnee files a suit for recovery of debt, though he is entitled to retain the goods he is bound to return them on payment of the debt and the pawner therefore ..... in a position whereby he is not able to redeliver the goods, he cannot obtain a decree. the apex court has also observed in the same judgment that once the pawnee by virtue of his right under section 176 sells the goods, the right of the pawner to redeem them is of course extinguished. but as aforesaid, the ..... pawnee is bound to apply the sale proceeds towards satisfaction of the debt and pay the surplus, if any, to the pawner. so long, however, as the sale does not take .....

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Mar 15 2002 (TRI)

Karur Vysya Bank Ltd. Vs. V.T.C. Builders and anr.

Court : DRAT Madras

Reported in : I(2003)BC43

..... would be adjudged so. the principal sum adjudged would be the sum actually loaned plus the amount of interest on periodical rests which according to the contract between the parties or the established banking practice has stood capitalised. interest pendente lite and future interest (i.e. interest post-decree not exceeding 6 ..... . relying upon this section the learned counsel appearing for the appellant bank argued that the court cannot reduce the rate of interest and there is a contract between the bank and the debtor with regard to the payment of interest at 22.75% per annum with compounded quarterly rests. the drt has awarded ..... 284=i (1999) clt 105 (sc)=( 1999) 2 sc cases 375, wherein the apex court has held that rate of interest is a matter of contract between parties and thus an agreement that compound interest is to be charged in respect of the amount advanced against a mortgage cannot be interfered with by a ..... has come forward with this appeal. counsel appearing for the appellant submitted that the bank is entitled to the rate of interest as per the contract and the future interest from the date of plaint till realisation ought to have been awarded at the contractual rate. he relies upon the decision of ..... is discretionary with the court as if is essentially governed by section 34 of the cpc de hors the contract between the parties. in a given case if the court finds that in the contract between the parties. in a given case if the court finds that in the principal sum adjudged on .....

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Dec 11 2008 (TRI)

M/S. R.S. Leather Exports Vs. Central Bank of India and Another

Court : DRAT Madras

..... this tribunal comes to the irresistible conclusion that section-69(2) of the partnership act clearly imposes a bar to initiate any proceedings to enforce the right under a contract entered into by the appellant firm, which is not a registered one on the one hand, and the respondent bank on the other. it follows necessarily that the reasoning ..... person suing is or has been shown in the register of firms as a partner in the firm. (2) no suit to enforce a right arising from a contract shall be instituted in any court by or on behalf of a firm against any third party unless the firm is registered and the persons suing are or have been ..... indian partnership act, 1932. section-69 of the partnership act reads as follows :- 69. effect of non-registration. (1) no suit to enforce a right arising from a contract or conferred by this act, shall be instituted in any court by or on behalf of any person suing as a partner in a firm against the firm or any ..... (a) the provisions of sub-sections (1) and (2) shall apply also to a claim of set-off or other proceeding to enforce a right arising from a contract. 9. it is no doubt true that the dispute between the appellant and the respondent bank arose on the basis of a ..... contract whereby the appellant availed credit facilities from the respondent bank and therefore, ld. counsel for the respondent has contended that in view of the dictum of law laid .....

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Jul 23 2003 (TRI)

Andhra Bank Vs. K. Anji Reddy and ors.

Court : DRAT Madras

Reported in : I(2004)BC154

..... from the date of the execution of the guarantee and one calendar month after the pronouncement of the judgment and after the period mentioned in the contract the guarantee is extinguished and it cannot be enforced at all. "the national and grindlays bank limited, delhi, declares that this guarantee shall remain ..... commenced within the period stipulated by the agreement. such a clause in the agreement would not fall within the mischief of section 28 of the contract act. to put it differently, curtailment of the period of limitation is not permissible in view of section 28 but extinction of the right itself ..... to curtail the period of limitation and prescribes a shorter period than that prescribed by law would be void as offending section 28 of the contract act. that is because such an agreement would seek to restrict the party from enforcing his right in court after the period prescribed under the ..... restricted absolutely from enforcing his rights under or in respect of any contract, by the usual legal proceedings in the ordinary tribunals, or which limits the time within which he may thus enforce his rights is void to that ..... given is called the 'creditor'. a guarantee may be either oral or written." 6. counsel for the appellant bank relies upon section 28 of the contract act and submits that agreements in restraint of legal proceedings is void. section 28(a) reads that-- "every agreement by which any party thereto is .....

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Oct 17 2003 (TRI)

The South Indian Bank Ltd. Vs. A. Abdul Hameed and ors.

Court : DRAT Madras

Reported in : II(2004)BC228

..... section 18 of said act ousts jurisdiction of other courts." 10. the apex court has further observed that "the settled legal position is that letter of credit constitutes a sole contract with the banker and its authorising the bank issuing letter of credit has no concern with any question that may arise between the seller and the purchaser of the goods ..... a mortgage and subsisting on, and legally recoverable on the date of the application.8. the insurance policy is taken by the borrower for sending the goods through carrier. the contract of insurance policy is between the borrower and the insurance company. the bank does not come in the picture at all. even though the bills of lading have been sent ..... to the plaintiff bank, nine bills were sent by the plaintiff bank to its bombay branch and three bills to the bank of india for collection and the plaintiff bank contracted d9's office at bombay for delivery of the consignments under the 9 bills duly presenting the consignee copy of the lorry receipts and also demanded d7's office for ..... to the bank and all the bills have to be cleared through the bank, it is a contract between the borrower and the bank so far as this transaction is concerned and the contract and the insurance policy is between the borrower and the insurance company and that insurance policy claim will not come under category of .....

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Aug 11 2005 (TRI)

National Textile Corporation Vs. Syndicate Bank

Court : DRAT Madras

Reported in : I(2006)BC54

..... such, the argument advanced on behalf of the appellant cannot at all be countenanced and the appellant should have taken all care to ratify the contract of the respondent with the sick industry and for its failure or omission, the respondent bank cannot be made as a scape goat.therefore, i ..... 30 of the sick textile undertakings (nationalisation) act, 1974 (hereinafter called the 'act'). admittedly, the appellant had not chosen to refuse or ratify the contract entered into by the respondent with the 1st defendant mill and, therefore the appellant is liable to reimburse the respondent bank in respect of the said amount. ..... the said fact and passed order, which is not sustainable.6. on the contrary, the learned advocate for the respondent bank would contend that the contract made by the 1st defendant company with the japanese firm is binding on the 12th defendant viz., the appellant, and the said sum of rs. 2 ..... purchase of the machinery and with whom the undertaking came to be vested under the act, that it would be deemed to have ratified the contract but has not chosen to ratify the same in time, the appellant was liable to reimburse the respondent bank. the appellant, who was the ..... ground that it was a post-nationalisation liability.2. the respondent bank filed a suit in os- 1022/1988. sub-court, coimbatore, claiming that the contract given to the japanese company was binding upon the appellant herein viz., national textile corporation (12th defendant) and the said sum of rs. 2,87,785 .....

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Mar 12 2003 (TRI)

The Vysya Bank Ltd. Vs. Guardian Papers Ltd. and ors.

Court : DRAT Madras

Reported in : III(2003)BC69

..... clearly implies that there is express participation on her part and she has given her the deeds with the only intent to create deposit of title deeds and there is contract of guarantor between the 3rd defendant and the bank. even under ex. a5 in printed form also which is the guarantee document, she has agreed to pay the total liability ..... implied assent to have such a contract should be proved by the person who want to rely upon it." 14. he also relies upon the decision of the karnataka high court in air 2002 karnataka 270, union ..... of the karnataka high court in air 1983 karnataka 73, h. mohamedkhan and ors. v. andhra bank ltd. and ors., wherein it has been held that "section 126, contract act which defines a 'contract of guarantee' makes it clear that it involves three parties viz., the creditor, the surety and the principal debtor who should all be privy.their express participation or ..... arguments advanced by the counsel for the 3rd defendant in this aspect does not hold good.13. counsel for the 3rd defendant drew my attention to section 126 of the contract act and submitted that express participation or implied assent among the three parties creditor, principal debtor and the guarantor is necessary which is absent in this case. on this, he .....

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Jan 28 2004 (TRI)

State Bank of India Vs. D.V.S. Raju and ors.

Court : DRAT Madras

Reported in : III(2004)BC117

..... d3 has nothing to do with these transactions and d3 after his resignation cannot be held liable. since d3 resigned in the year 1981 and subsequent contract has been entered into by the new directors and all the dealings have been done by the new directors, d3 cannot be held liable on the ..... the surety to pay the decretal amount. on such payment he will be subrogated to the rights of the creditor under section 140 of the indian contract act, and he may then recover the amount from the principal and the very object of the guarantee is defeated if the creditor is asked to ..... amount maintained at the red hills (hyderabad) branch, as that branch was handling these transactions. these things clearly establish that there was variation in the contract and there was change in the management of the 1st defendant company even in the year 1982 and the 1st respondent ceased to be the director and ..... respondent and for that variation of contract also the 1st respondent cannot be held responsible. so, viewed at any angle it is crystal clear that the 1 st respondent cannot be held liable ..... and as he also resigned from the directorship in the year 1981, the 1st respondent cannot be held liable. further, there is also variation in that contract and the loan account was converted into cash credit account after ten years and the suit has been filed as against this erstwhile director, the 1st .....

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Mar 28 2003 (TRI)

industrial Development Bank of Vs. Empee Sugars and Chemicals Ltd.

Court : DRAT Madras

Reported in : I(2004)BC99

..... admits of no doubt or give any scope for controversy. while so, it is beyond ones comprehension as to how it could have been viewed as a matter of mere contract between parties and under that pretext absolve itself of the responsibility to enforce it, except by doing violence to the terms thereof in letter and spirit. as long as the .....

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Aug 18 2003 (TRI)

Diamond and Gem Development Vs. Karnataka State Financial

Court : DRAT Madras

Reported in : II(2004)BC191

..... that the defendant only supplied the machineries to the beneficiaries and for those machineries only the ksfc paid the cheque on all the individual loan transactions and there is no contract with regard to the payment of the loan amount granted to the beneficiaries by the defendant. he further submitted that no documents pertaining to the grant of loan has been ..... , cheques have been issued by ksfc to the appellant towards the supply of the machineries by the appellant. so, it has been established that with regard to the loan, the contract is between the beneficiaries and the respondent ksfc.12. counsel for the respondent ksfc also conceded, that all the loan documents are between the beneficiaries and the ksfc. none of .....

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