Mumbai Court November 1941 Judgments

The State Aided Bank of Travancore, Limited Vs. Dhrit Ram

Court: Mumbai

Reported in: (1942)44BOMLR557

Atkin, J.1. This is an appeal by the defendants from a decree of the Appellate Division of the High Court of Bombay affirming a decree of B. J. Wadia J. in the High Court in favour of the plaintiff. The dispute involves a relatively simple question arising in the business of banking. The defendants, who will be called hereafter the Bank, are a company incorporated according to the laws of the State of Travancore and apart from a branch office in the State of Cochin have their head and only office at Alleppey in that State. They have no branches elsewhere. In September, 1936, the plaintiff, who resided and was in permanent employment in Bombay, wrote to the Bank at Alleppey asking for the rate of interest allowed on fixed deposit. On September 5, 1936, the Bank wrote back stating that their present rates of interest for deposits of six months, one year, and two or more years were four per cent., five per cent. and five and a half per cent., respectively :Remittance may be made towards c...