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IN THE HIGH COURT OF JHARKHAND AT RANCHI
MRS. JUSTICE ANUBHA RAWAT CHOUDHARY, J
Punjab National Bank, A Statutory Bank Owned By The Government Of India – Appellant
Versus
Shyam Sunder Sharma, Son Of Late Sheo Nandan Sharma – Respondent
JUDGMENT :
ANUBHA RAWAT CHOUDHARY, J.
Heard the learned counsel appearing on behalf of the appellant.
2. This appeal has been filed against judgment and decree dated 08.12.2015 (decree sealed and signed on 21.12.2015) passed by the learned District Judge-II, Jamshedpur in Money Appeal No.1 of 1993 whereby the appeal has been dismissed, confirming the judgment and decree dated 18.02.1989 (decree sealed and signed on 04.03.1989) passed by the learned Subordinate Judge-III, Jamshedpur in Money Suit No.80 of 1985/143A of 1988 whereby the suit was decreed on contest and held that the plaintiffs are entitled to realize a sum of Rs.35,000/- against the defendants jointly and severally each.
3. The learned counsel for the appellant has submitted that the defendant no.1 was the principal loanee and the defendant no.2 was the concerned bank. He has submitted that as per the case of the plaintiffs, the defendant no.1 the uncle of the plaintiffs, had pledged the fixed deposits standing in the name of the plaintiffs, who were minor at the relevant point of time. It was pledged by defendant no.1, and he availed the loan and also became a defaulter and he has submitted that the defendant no.1 had mis
The court established that loans against minors' fixed deposits, without the natural guardian's consent, are illegal, affirming joint liability for wrongful appropriation.
(1) Minor – The minor’s interest is nowhere defeated, in as much as, it is the receipt of the lawful amount under the fixed deposits negotiated by the parents and accepted by them, which the minor is....
Civil suits are permissible even when proceedings exist before the Debt Recovery Tribunal, as jurisdiction of civil courts is not excluded without explicit statutory provisions.
Validity of sale by de-facto guardian for discharging debt.
The failure of authorities to renew a Fixed Deposit Receipt for a minor claimant led to significant loss of interest, establishing the duty to ensure proper management of judicial awards.
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