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1981 Supreme(Del) 90

AVADH BEHARI ROHATGI
VIJAY KUMAR – Appellant
Versus
JULLUNDUR BODY BUILDERS – Respondent


Advocates Appeared:
K.N.BHATT, R.M.AGARWAL

A. B. ROHATGI

( 1 ) THIS execution case raises the question of banker s lien.

( 2 ) THE decree-holder obtained a decree on 2-11-1979 for Rs. 1,04,441. 35 with future interest at 9 per cent per annum and costs against the judgment-debtors, Jullundur Body Builders. In the course of execution the judgment-debtors said that they will pay the decretal amount in instalments. They were accordingly required to furnish a bank guarantee in the sum of Rs. 90,000. The judgment-debtors approached the Syndicate Bank the Bank with whom they had an overdraft account. They deposited two fixed deposit receipts with a covering letter with the bank and requested it to issue a guarantee in favour of the Registrar of this court. The particulars of the FDR are as under :

(1) FDR dated 9-5-80 for Rs. 25,000. 00 to mature on 1-7-85. (2) FDR dated 17-9-80 for Rs. 65,000. 00 t0 mature on 17-12-83. The deposit receipts were duly discharged in favour of the bank. On 17-9-1980 the bank executed a deed of guarantee for Rs. 90,000. 00 in favour of the Registrar.

( 3 ) ON the application of the decree-holder this court attached an amount of Rs. 35,000 in the hands of the bank out of the amount of the aforesaid depo
















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