Supreme Court · 2003 INSC 534 · Decided 8 October 2003
Citi Bank N.A. v. Standard Chartered Bank and ORS.
- Court
- Supreme Court of India
- Citation
- 2003 INSC 534 · [2003] SUPP. 4 S.C.R. 489
- Case number
- CIVIL APPEAL No. 7941/1995
- Decided
- 8 October 2003
- Bench
- R.C. LAHOTI, ASHOK BHAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Evidence Act Section 114; Contract Act Section 63
Headnote
B Contract Act, 1872-Section 63-Performance of Contract-Transfer of Bonds-By one Bank to another Bank-Subsidiary General Transfer Form given by first bank in favour of second bank-Dishonoured-Further transfer of the Bonds in favour of third Bank-Bankers Receipt given in C lieu of the Bonds-Bankers in favour of second Bank from the first Bank-Demand was voluntary with knowledge about the dishonour-Ledger given-Interest on the Bonds received by third Bank from a third party-After 9 months of transaction, demand of Bonds D or money in lieu of it by third Bank from second Bank-Second Bank
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