Supreme Court · 1968 INSC 181 · Decided 7 August 1968
Bharat Nidhi LTD. v. Takhatmal & ORS.
- Court
- Supreme Court of India
- Citation
- 1968 INSC 181 · [1969] 1 S.C.R. 595
- Case number
- CIVIL APPEAL No. 133/1965
- Decided
- 7 August 1968
- Bench
- S.M. SIKRI, R.S. BACHAWAT, K.S. HEGDE (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Debtor and Creditor-Power of attorney coupled with endorsement on bill by debtor in favour of creditor-Equitable assignment of future debt-If valid. The appellant-Bank, agreed to finance the contracts undertaken by M. and to advance monies against his bills for supplies under the contracts . . For an irrevoc· able power of attorney in favo1<r of the appellant authorising the latter to re.ceive all monies due or to become due to M in respect of pending or future contracts. M made a bill, endorsed it in fayour of the appellant for collection, and handed it over to the appellant
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