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1975 Supreme(Cal) 70

BIMAL CHANDRA BASAK
ORIENTAL BANK OF COMMERCE LTD. – Appellant
Versus
PASHOK TEA CO. LTD. – Respondent


BIMAL CHANDRA BASAK, J.

( 1 ) THIS is an application for transfer of O. C Suit No. 48 of 1974 (Oriental Bank of Commerce Limited v. Pashok Tea Co. Ltd. and Ors.) now pending in Court of Subordinate Judge at Darjeeling. The plaintiff's case as made out in the said application is as follows : The plaintiff is a banking company. The defendant No. 1 is a public limited company owning tea estates, one known as Pashok Tea Estate in the District of Darjeeling and the other known as Lukan Tea Estate (also known as Mohara Tea Estate) in the District of Jalpaiguri, West Bengal. The defendant company was a constituent of the plaintiff. The defendant company was allowed to open an overdraft account with the plaintiff with effect from January, 1965 which was secured by hypothecation of the first defendant's entire tea crop already produced and to be produced in future in the aforesaid two tea estates including plant, machineries as well as stocks and stores. Initially the overdraft limit was fixed at Rs. 20,00,000 which was increased from time to time and ultimately fixed at Rs. 43,00,000. Thereafter in January, 1969 several title deeds were deposited with the plaintiff Bank to secure due repa






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