JUDGMENT

Kanhaiya Lal, J. - These appeals arise out of proceedings in execution taken by the assignee of certain decrees and the question, for consideration is whether the assignment was valid and binding on the original decree-holder. The decrees in question had been obtained by the Kayasth Trading and Banking Corporation Ltd., against the present judgment-debtors. They were sold by B. Ram Gharib Lal, who was the manager of the company and one of its Directors, on behalf of the company, and the consideration paid by the assignee was credited in the accounts of the corporation.

2. The Articles of Association provided that there shall be a manager of the company whose duty shall be to conduct the whole business of the company and to perform all such works and services as may be necessary to carry on the said company or its branches and such as are usually performed by the manager of a Banking Company. They further provided that the said manager shall be authorised to advance loans to the best advantage of the company of such amounts and to expend such sums to keep the bank, its branches and establishment going, as may be prescribed by the Directors from time to time. B. Ram Gharib Lal