2008 Supreme(Cal) 296
JYOTIRMAY BHATTACHARYA, S.S.NIJJAR
Central Bank of India – Appellant
Versus
Gour Nitya and Industries Ltd. – Respondent
Advocates appeared:
Biswarup Gupta, Sr. Advocate with I. N. Mukherjee, Ms. Aruna Dutta and Sanjay Paul, for Appellants; Hirak Kumar Mitra, Sr. Advocate with Sanjit Dawn, Debasish Mukhopadhyay and Joydeep Roy, Reetobroto Mitra with Anil Dhar, for Respondents.
JUDGMENT :- We have heard the counsel for the parties at length. We have also perused the order passed by the learned single Judge. We are of the considered opinion that the judgment of the learned single Judge is well reasoned and in accordance with the settled principles of law. It is not in dispute before us that three different and distinct companies belonging to the same group hold separate bank accounts with the appellant-Bank. It is also not disputed that the securities for loan accounts of the individual companies are not inter mixed and are independent of each other. At some stage, one of the companies made an application for return of the security documents as it wanted to open an account with another bank. This request was denied by the appellant-Bank on the ground that either the Group closes all its accounts or none. In other words, the appellant-Bank is willing to allow the writ petitioners to maintain all the three accounts but would not permit the continuance of only two accounts out of three.
2. The learned single Judge after taking into consideration the facts has come to the conclusion that the decision of the appellant-Bank was unjustified, unreasonable and contr
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