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Padmakar Vs. State Bank of India and anr.
Mumbai
Dec-12-2005
Banking
Indian Contract Act, 1872 - Sections 140 and 141; Code of Civil Procedure (CPC) , 1908 - Sections 34
II(2007)BC474
any or other such security and that notwithstanding the provision of Sections 140 and 141 of the Indian Contract Act, 1872, or any other section of that Act or any other law, the guarantor(s) will not claim to be
Tag this Judgment! AI Brief & AskNagpur Nagarik Sahakari Bank Ltd. Vs. Union of India and anr.
Andhra Pradesh
Feb-24-1981
Company
Maharashtra Co-operative Societies Act - Sections 164; Indian Contract Act, 1872 - Sections 74, 124, 126, 128, 140, 141 and 145
[1984]55CompCas677(AP)
be final and binding on the bank ....' Sections 124, 126, 128, 140 and 145 of the Indian Contract Act, 1872, read as under : '124. A contract by which one party promises to save the other from loss … the duties and obligations indicated in the said agreement shall be final and binding on the bank ....' Sections 124, 126, 128, 140 and 145 of the Indian Contract Act, 1872, read as under : '124. A
Tag this Judgment! AI Brief & AskSyndicate Bank, Tangutur Branch, Tangutur, Prakasam District Vs. Pamid ...
Andhra Pradesh
Sep-13-2001
Civil
Indian Contract Act, 1872 - Sections 126, 128, 134, 139 and 140; Code of Civil Procedure (CPC), 1908 - Sections 151 - Order 20, Rule 11(1) - Order 21, Rule 11; ;Companies Act, 1956 - Sections 456(2); Companies (Court) Rules, 1959 - Rule 9; Andhra Pradesh Agricultural Indebtedness (Relief) Act, 1977; Madras Agriculturists' Relief Act, 1938 - Sections 4(2)
2001(6)ALD365; 2001(6)ALT640; [2002]108CompCas12(AP)
suit.8. Before consideration of the rival contentions, it would be relevant to mention the relevant provisions of the Contract Act, 1872.Section 126. ' Contract of guarantee', 'surety', 'principal Debtor' and 'creditor' - A 'contract of guarantee' is a contract … and the eventual remedy of the surety himself against the principal Debtor is thereby impaired, the surety is discharged.Section 140. Rights of surety on payment or performance - Where a guaranteed debt has become due, or default of
Tag this Judgment! AI Brief & Ask18-section briefs on any result in this list
State Bank of India, Its Branch Manager, Tirupattur Vs. Kasim, Proprie ...
Chennai
Jul-27-1999
ContractCivil
Code of Civil Procedure (CPC), 1908 -- Order 34, Rule 5, 16; Indian Contract Act, 1872 -- Sections 139,140, 141; Limitation Act, 1963 -- Article 137 and 181
1999(3)CTC109
because the State lost or parted with the security he stood discharged. By S. 10 of the Indian Contract Act, 1872, where a guaranteed debt has become due, or default of the principal debtor to perform a guaranteed duty … to assure ourselves that it is not in the language of S. 140 or S. 141 of the Indian Contract Act that the Court will … any petition for final decree and thereby the plaintiff has lost his right over the mortgage security.9 Under Section 139 of the Contract Act, if the creditor omits to do any act which is his duty to
Tag this Judgment! AI Brief & AskArul Murugan Traders Vs. Rashtriya Chemicals and Fertilizers Ltd. and ...
Chennai
Mar-29-1984
Company
Code of Civil Procedure (CPC), 1908 - Sections 151 - Order 39, Rules 1 and 2; Indian Contract Act, 1872 - Sections 126, 128, 133, 140 and 145
(1984)2MLJ375
when bank guarantees are invoked, after referring to Sections 126, 128, 133, 140 and 145 of the Indian Contract Act, 1872, dealing with indemnity and guarantee, he refers to United Commercial Bank v. Bank of India, : [1981]3SCR300 , … No. 737 of 1982, it sought for grant of a temporary injunction under Order 39, rule I and section 151, CPC, restraining respondents from realising the said amount by enforcing the bank guarantee till the disposal of
Tag this Judgment! AI Brief & AskAnil Kumar and ors. Vs. Central Bank of India and ors.
Himachal Pradesh
Jan-04-1996
BankingCommercial
Contract Act, 1872 - Sections 128, 134, 137, 139 and 141
AIR1997HP5
and Bhabani Sankar Patra v. State Bank of India, AIR 1986 Ori 247.23 Chapter VIII of the Indian Contract Act, 1872 (hereinafter referred to as the 'Act) deals with indemnity and guarantee. Section 124 defines the expression 'contract of … pay the decretal amount. On such payment he would be subrogated to the rights of the creditor under Section 140.. The security would become useless if rights against the security could be so easily cut 'down.' '22 In
Tag this Judgment! AI Brief & Askindustrial Finance Corporation of India Ltd. Vs. the Cannanore Spinnin ...
Supreme Court of India
Apr-12-2002
Contract
Indian Contract Act, 1872 - Sections 20, 21, 29, 56, 128 and 130 to 141; Companies Act, 1956; Industrial Development and Regulations Act; Sick Textile Undertakings (Nationalisation) Act, 1974 - Sections 3, 4, 5 and 20; Nationalisation (Sick Textile Undertakings Taking Over of Management) Act, 1972 - Sections 5, 5(1) and 5(2); Constitution of India - Article 136; Sick Industrial Companies (Industrial Provisions) Act, 1995 - Sections 22
AIR2002SC1841; 2002(3)ALD113(SC); 2002(2)ARBLR676(SC); II(2002)BC430(SC); [2002]110CompCas685(SC); (2002)4CompLJ337(SC); JT2002(4)SC318; (2002)3MLJ144(SC); 2002(3)SCALE574;
it would also be convenient to note the true effect of Sections 139 and 140 of the Indian Contract Act, 1872 as well, which read as under : '139. Discharge of surety by creditor's act or omission impairing surety's … specific reliance on to Sections 140 and 141 of the Indian Contract Act (noticed above), the High Court stated'Section 140 and 141 of the Indian Contract Act together safeguard the interests of the surety on the payment or
Tag this Judgment! AI Brief & AskPunjab State Industrial Development Corporation Limited Vs. Punjab Nat ...
Punjab and Haryana
Jul-20-2006
Company
Companies Act, 1956 - Sections 125, 429A, 442 and 537; Indian Contract Act, 1872 - Sections 140, 141 and 145; Recovery of Debts Due to Banks and Financial Institutions Act, 1993; Industries (Development and Regulation) Act, 1951 - Sections 18A; Companies Court Rules, 1959 - Rule 9
[2008]145CompCas293(P& H); (2006)144PLR402; [2009]95SCL189(Punj& Har)
entered into by the partnership firm. One of the aspects considered by the Supreme Court was scope of Section 140 of the Indian Contract Act, 1872 and it was held to the following effect:.In this connection it is … read with Rule 9 of the Companies Court Rules, 1959, and Sections 141 and 145 of the Indian Contract Act, 1872, for an order to, declare all the liabilities of the Punjab National Fertilizers and Chemicals Limited (In Liquidation)
Tag this Judgment! AI Brief & AskState Bank of India Vs. Dr. T.K. Subramaniam and ors.
Chennai
Dec-24-1997
Banking
Indian Contract Act, 1872 - Sections 140 and 141
[2001]103CompCas725(Mad)
as to costs, in this appeal and cross-objections. Banking - guarantee - Sections 140 and 141 of Indian Contract Act, 1872 - defendant stood guarantee for loan given by plaintiff to other defendant - defendant defaulter in payment of … between bank and parties makes defendant surety liable for payment of amount - defendant surety claimed benefit of Section 140 and 141 - guarantee given by surety effective irrespective of provisions of Sections 140 and 141. -
Tag this Judgment! AI Brief & AskEconomic Transport Organization Vs. Charan Spinning Mills (P) Ltd. and ...
Supreme Court of India
Feb-17-2010
ConsumerInsurance
Consumer Protection Act, 1986 - Sections 2 and 14(1); ;Carriers Act, 1865 - Sections 8 and 9; ;Consumer Protection Act, 1988 - Section 2; ;Limitation Act - Section 14; ;Marine Insurance Act, 1963 - Section 79; ;Contract Act, 1872 - Section 140; ;Transfer of Property Act, 1882 - Sections 3, 6 and 130; ;Stamp Act; ;Insurance Law
JT2010(2)SC271,2010(2)SCALE427,2010(2)LC1004(SC)
as the assured has been indemnified, according to this Act, by such payment for the loss.Section 140 of Contract Act, 1872 deals with the principle of subrogation with reference to rights of a Surety/Guarantor. It reads:140. Rights of surety
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