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Judgment Search Results Home > Cases Phrase: pawnee contract Sorted by: old Court: drat madras Page 1 of about 53 results (0.195 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 08 2002 (TRI)

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

Court : DRAT Madras

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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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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Apr 10 2002 (TRI)

U. Mahesh Kumar Vs. Bank of India

Court : DRAT Madras

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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May 06 2002 (TRI)

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

Court : DRAT Madras

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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May 22 2002 (TRI)

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

Court : DRAT Madras

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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Jan 24 2003 (TRI)

Sidharth Spices Corporation and Vs. Union Bank of India

Court : DRAT Madras

Reported in : II(2003)BC82

..... by discount or purchase of the bills or otherwise, one thing is clear that alt that was required to be done under the terms of the agreement and under the contract had been done by the two banks. therefore, the national commission was not justified in having reached the conclusion that the indian bank's services were deficient." 10. relying upon ..... from the appellant now does not hold good by virtue of the decision of the apex court in air 2000 sc page 761. it appears from the documents that the contract with regard to the foreign export was made as early as 19.3.1979, 14.4.1980 and 14.4.1981 and the bills were sent to sudan for collection .....

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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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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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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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