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It was difficult to comprehend as to why it would have been drawn for Rs.1,50,000/( Rupees one lakh fifty thousand only) only when it is the case of the appellant that the advance amount paid was Rs.3,50,000/( Rupees three lakh fifty thousand only) and had to get back the entire advance paid. The natural conduct would have been to secure for the full amount if that was the situation. Keeping all these aspects in view, the case put forth by the respondent does not satisfy the requirement of rebuttal even if tested on the touchstone of preponderance of probability. Therefore, in t...
Triyambak S. Hegde v. Sripad
September 22, 2021
REED 2021 SC 09008
The termination has been found to be contrary to the regulations and hence, illegal. The issue which survives is in regard to the grant of relief. The first respondent served for a period of less than three years from 31 July 1980 until his appointment was terminated on 14 June 1983. Over thirty-eight years have elapsed since the date of the termination. Having regard to the above circumstances and the nature of the appointment, the Apex Court were of the view that a direction for the payment of compensation in lieu of the reliefs which have been granted by the Trial Judge (and ...
Zila Sahkari Bank Limited v. Ram Niwas and Another
August 30, 2021
REED 2021 SC 08004
Irretrievable injury, has to be such a circumstance which would make it impossible for the guarantor to reimburse himself, if he ultimately succeeds. This will have to be decisively established and it must be proved to the satisfaction of the court that there would be no possibility whatsoever of the recovery of the amount from the beneficiary, by way of restitution. Commitment of banks must be honoured free from interference by the courts and it is only in exceptional cases, that is to say, in case of fraud or in a case where irretrievable injustice would be done if bank guaran...
SKS Power Generation (Chattisgarh)Limited v. Canara Bank
August 10, 2021
REED 2021 Bom 08560
The text of Section 60(2) discloses that Section 60 of the Code would apply to an individual only if there is a corporate insolvency resolution process pertaining to the corporate entity which was the principal debtor, that has been filed or commenced. In other words, in case of company ‘A’ being the principal debtor and an individual ‘P’ the guarantor promising repayment of the credit facilities obtained by ‘A’, if a corporate insolvency resolution process is initiated under the provisions of the Code pertaining to company ‘A’, the insolvency resolution process pertaining to gu...
Rohit Nath @ Rohit Rabindra Nath v. KEB Hana Bank Limited