A.M.NAIK
State Bank of India – Appellant
Versus
Jagdish Talkies – Respondent
This judgment decides FA No.259/90 and the cross-objections submitted therein as well as CR No.46/93.
1. Short facts relevant for the purposes of the matter under conroversy are that Civil Suit No.1-A/75 was instituted in the Court of Civil Judge, Class-I, Damoh, by one Shiv Kumar against M/s. Jagdish Talkies Kasturchand Singhai was appointed as receiver in the said civil suit by the aforesaid Court. The building, furniture and machinery of Jagdish Talkies were used to be let out to third persons and the receiver was invested with a power to realise and recover the rent payable by such third persons. Kasturchand Singhai, in the capacity of receiver, decided to keep the money so received by him in the State Bank of India, Damoh Branch. Accordingly, he opened a savings bank account in his own name and started depositing the money therein, He was assured by the bank that he will be paid the interest as per the rules of banking, This account bearing SB A/c,No.201 4918 was opened by the plaintiff on 29.4.1982 with the defendant Bank in the City Branch at Damoh. The bank used to pay the interest by crediting it in the same savings bank account. On 28.5.1986, the defendant informed
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