Cash Balances - Definition - Law Dictionary Home Dictionary Definition cash-balances

Definition :

Cash balances, The expression 'cash balances' in clause (b) of sub-s. (1) of s. 14 of the Administration of Evacuee Property Act, 1950 has to be construed as the excess of credits over debits. The word 'balance' appears to have been advisedly used in preference to 'deposits' because the intention was that only such amount in deposit with the Custodian should be transferred to the compensation pool which would be in excess of the amount required for meeting the due claims against the evacuees or their properties. It is thus clear that what can be directed to be transferred to the compensation pool by the Government under s. 14(1)(b) is the 'cash balance' and not the total cash deposits with the Custodian, Custodian of Evacuee Property v. Rabia Bai, (1977) 1 SCR 25: (1976) 4 SCC 270: AIR 1976 SC 2557 (2566).