SupremeToday Landscape Ad
Back
Next
Judicial Analysis Court Copy Headnote Facts Arguments Court observation
Listen Audio Icon Pause Audio Icon
judgment-img

1996 Supreme(MP) 607

A.R.TIWARI, S.B.SAKRIKAR
Dena Bank – Appellant
Versus
New Malwa Cotton Corpn. – Respondent


Advocates:
J.W. Mahajan for appellant; G.M. Chafekar with S.S. Samvatsar and D.D.
Vyas for respondents No.1 to 4.

JUDGMENT

S.B. Sakrikar, J. -- 1. Appellant/plaintiff Bank has directed this appeal against the judgment and decree dated 20th March, 86 passed by III Additional Judge to the Distt. Judge, Indore in Civil Suit No. 18/85 (Old No. 65B/84) thereby the suit filed by the appellant was decreed only against respondent No.5 and dismissed against respondent No.1 to 4.

2. The facts of the case lie in narrow compass. That respondents No.2 and 3 are the Partners of respondent No. 1 and are dealing with cotton business in the name of respondent No.1. Respondent No.4 stood surety for different loan facilities given to respondent No. 1 by the plaintiff/Bank. Respondent No. 1 obtained certain facilities i.e. pledge, cash credit, bill purchase etc. According to the plaintiff's case, under the bill purchase loan facility given to respondent No. 1, respondent No. 1 used to send goods to its customers and used to endorse the bill, motor transport receipts and Hundi in favour of the appellant/Bank. Respondents used to obtain the amount involved in the aforesaid hundis and bill from the Bank. The amount used to be debited in the name of respondent No. 1, although the bill used to be endorsed in favour of t























Click Here to Read the rest of this document

1
2
3
4
5
6
7
8
9
10
11
SupremeToday Portrait Ad
supreme today icon
logo-black

An indispensable Tool for Legal Professionals, Endorsed by Various High Court and Judicial Officers

Please visit our Training & Support
Center or Contact Us for assistance

qr

Scan Me!

India’s Legal research and Law Firm App, Download now!

For Daily Legal Updates, Join us on :

whatsapp-icon telegram-icon
whatsapp-icon Back to top