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2008 Supreme(SC) 455

C.K.THAKKER, LOKESHWAR SINGH PANTA, ARIJIT PASAYAT
Uttar Gujarat S. R. V. Sangh Ltd. – Appellant
Versus
M/s. Mehsana Dist. Cent. Co-op. Bank Ltd – Respondent


judgment

Dr. Arijit Pasayat, J. —

1.Leave granted.

2.Challenge in this appeal is to the order passed by learned Single Judge of the Gujarat High Court in Special Civil Application No. 5660 of 1998 and Misc. Civil Application No. 231of 2005.

3.Background facts as projected by appellant in a nutshell are as follows :

Certain bales of cotton belonging to Respondent No. 3 were pledged with the respondent no. 1. However, the respondent no. 3 had handed over the said goods to the respondent no. 2 for ginning. The respondent no. 2 had ginned the cotton but they were not having any facility of pressing. Therefore, the said goods were given to Ashoknagar Cooperative Society. Ashoknagar Cooperative Society had pressed and made bales and the same were supplied to the present appellant to be sold in the market. The said goods were accordingly sold by the appellant after approval was granted by the respondent no. 1 on the condition that the sale proceeds of the goods would be paid to the respondent no. 1. Accordingly the appellant handed a part of the sale proceeds to the respondent no. 1. For the remaining amount, the appellant was, about to hand over the said money. In the meantime, Civil Suit No.















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