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Judgment Search Results Home > Cases Phrase: pawnee contract Court: drat madras Year: 2002 Page 1 of about 12 results (0.016 seconds)

Aug 28 2002 (TRI)

Medichem Industries Vs. Bank of Baroda

Court : DRAT Madras

Decided on : Aug-28-2002

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

Decided on : Mar-15-2002

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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May 22 2002 (TRI)

Punjab National Bank Vs. Kaveri Food Products (India) Pvt.

Court : DRAT Madras

Decided on : May-22-2002

Reported in : II(2003)BC44

..... to pay interest with monthly rests. the applicant bank has claimed interest with monthly rests only upto 14.3.1976 and thereafter with quarterly rests. only as per the contract and on the loan documents the applicant bank has claimed interest with monthly rests upto 14.3.1976 and thereafter with quarterly rests. since the parties are governed by documents ..... that charging of interest on monthly rests by the applicant bank for the period 1973 to 1976 based on the document is justified and the defendants are bound by the contract. the promissory note executed (ex. a-3) shows interest with monthly rests. similarly, ex. a-4 also shows the rate of interest on monthly rests basis. so there was agreement ..... monthly rests but the presiding officer, drt, has passed the order in the original application (oa) as quarterly rests and it is not sustainable and it is opposed to the contract. he further submitted that if the interest at monthly rests upto 14.3.1976 is calculated and thereafter with quarterly rests, the total difference as on date comes to rs .....

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Mar 08 2002 (TRI)

Mafatlal Gagalbhai Textiles Ltd. Vs. Canara Bank and ors.

Court : DRAT Madras

Decided on : Mar-08-2002

Reported in : II(2003)BC66

..... as 3rd defendant. as rightly pointed out by the learned counsel for the respondent bank, the proposed party is not at all a debtor and there is no privity of contract between the bank and the proposed party.5. an application to the tribunal under the act will lie where a bank or a financial institution has to recover any debt ..... parly must be added as a party to this oa to have proper adjudication in the matter.4. counsel for the respondent-bank submitted that there is no privity of contract between the bank and the proposed party. no agreement has been entered into between the appellant and the proposed party and the bank is not at all concerned with regard ..... to be impleaded as party 3rd defendant in the oa.the bank filed objections contending that the proposed 3rd defendant is not a debtor and there is no privity of contract between the bank and the proposed 3rd defendant. it further contends that the bank is not a party to any of the lease agreements and m/s. shamanur estates is .....

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May 06 2002 (TRI)

A.V. Exhibitors and ors. Vs. Corporation Bank

Court : DRAT Madras

Decided on : May-06-2002

Reported in : I(2003)BC92

..... 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 capitalized. interest pendente lite and future interest (i.e. interest post-decree not exceeding 6 percent ..... be stated that the respondent bank has charged more interest. even under the pronote it is specifically stated as compounded with quarterly rests. so the contract provides for compunded with quarterly rests.only at the rate prescribed by the rbi the bank has claimed interest till the date of filing of the suit ..... maintained by banks in conformity with rbi directives." 9. so it cannot be stated that the respondent bank has violated the terms and conditions of the contract and has charged more interest. the rate of interest prescribed by the rbi is a fluctuating one and the rate of interest may not be uniform ..... given by the rbi during the relevant period of time and interest charged, is proper.6. counsel for the appellants submitted that only as per the contract under ex. p3 the bank has to charge interest and beyond that the bank has no right to charge and if the bank wants to charge ..... on the wordings contained in the pro-note and contends that the bank is not entitled to charge any more interest than the interest as per the contract as mentioned in the pronote. in ex. p3, the interest is mentioned at 5% per annum over and above the bank rate subject to a .....

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Apr 10 2002 (TRI)

U. Mahesh Kumar Vs. Bank of India

Court : DRAT Madras

Decided on : Apr-10-2002

Reported in : II(2003)BC91

..... of the goods through court. clause 10 clearly provides for this. the bank is at liberty to bring the hypothecated goods for sale either to be auctioned or by private contract or otherwise dispose of the hypotheca in such manner and upon such terms and conditions as the bank shall think fit and applying the net sale proceeds towards repayment or ..... thereupon forthwith or at any time and from time-to-time but after giving not less than 48 hours notice at least to sell either by public auction or private contract or otherwise dispose of or deal with the hypotheca in such manner and upon such terms and conditions as the bank shall think fit and to apply the net sale .....

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Mar 18 2002 (TRI)

Syndicate Bank Vs. G.R. Enterprises and ors.

Court : DRAT Madras

Decided on : Mar-18-2002

Reported in : II(2003)BC63

..... in the principal sum 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 per cent per annum) shall ..... has observed that "award of interest pendente lite and post-decree is discretionary with the court as it 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 principal sum adjudged on the date of the suit the component of interest is disproportionate with .....

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Nov 25 2002 (TRI)

Canara Bank Vs. A. Chidambaram

Court : DRAT Madras

Decided on : Nov-25-2002

Reported in : III(2003)BC21

..... remains responsible for any sum incurred by the principal debtor governed by the guarantee upto the time of six months after notice was given. as per section 130 of the contract act, even if any revocation letter is given, it will operate only for the further transactions and not for the past transactions. viewed at any angle, there is no ground ..... for the claim by the bank for the amount due till 21.3.1993 and after that date d-6 guarantor will not be liable.7. section 130 of the contract act deals with revocation of continuing guarantee section 130 states that "a continuing guarantee may at any time be revoked by the surety, as to future transactions, by notice to ..... this day till the expiry of a period of six months of the actual service on the bank of a specific notice of revocation in writing." 5. as per the contract entered into between the guarantor and the bank under the guarantee letter, it is a continuing guarantee and it is binding on the guarantor notwithstanding the death of the guarantor ..... from this liability immediately when he sent that revocation letter and the order passed by the presiding officer, drt-ii, discharging d-6 is perfectly justified. section 129 of the contract act deals with continuing guarantee which states that a guarantee which extends to a series of transactions is called a 'continuing guarantee'. a continuing guarantee is one which extends to .....

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Mar 18 2002 (TRI)

Indian Bank Vs. T. Kulasekaran

Court : DRAT Madras

Decided on : Mar-18-2002

Reported in : II(2003)BC67

..... is no sanction letter towards the loan transaction and there are no terms and conditions and there is also no agreement for interest and in the absence of any substantial contract or agreement between the parties the bank is not entitled to contend that and the order passed by the presiding officer, drt is not sustainable.counsel for appellant bank submitted .....

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Apr 26 2002 (TRI)

S. Surendran Vs. the Catholic Syrian Bank Ltd.

Court : DRAT Madras

Decided on : Apr-26-2002

..... in the principal sum 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 per cent per annum) shall .....

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