Supreme Court · 1989 INSC 336 · Decided 7 November 1989
Indian Overseas Bank v. Industrial Chain Concern
- Court
- Supreme Court of India
- Citation
- 1989 INSC 336 · [1989] SUPP. 2 S.C.R. 27
- Case number
- CIVIL APPEAL No. 2842/1982
- Decided
- 7 November 1989
- Bench
- K.N. SAIKIA, M. FATHIMA BEEVI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- NI Act Section 131
Headnote
Negotiable Instruments Act-Section 131-Bank can avail of immunity as collecting banker-Opening of account-Duties of bank. -A B The plaintiff-respondept filed original suit No. 7667 of 1975 against the appellant-Bank in the City Civil Court Madras for recovery C of Rs.26,383.49 p. together with on the part of the appellant who negligently allowed one Sethuraman, Manager of the plaintiff''s firm to open a "fictitious account" in the name of "Industrial Chain Concern" as its proprietor and helped him to pay in stolen drafts and cheques drawn in favour of the
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)