Supreme Court · 1969 INSC 248 · Decided 17 September 1969
PUN.JAB National Bank Limited v. Bikram Cotton Mills & ANR.
- Court
- Supreme Court of India
- Citation
- 1969 INSC 248 · [1970] 2 S.C.R. 462
- Case number
- CIVIL APPEAL No. 1957/1966
- Decided
- 17 September 1969
- Bench
- J.C. SHAH, A.N. GROVER (2-judge bench)
- Outcome
- Remitted to Lower Court
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 126; Companies Act Section 39, 391
Headnote
Contract Act 1872, s. 126-Coinpany director executing bond to repay 'u'timate balance' found due frofn co1npany to Bank on cash~credit account--Sinn1ltaneously other docun1ents executed by conzpany under­ taking repayment-If bond inde11znity or co111rac/, of guarantee-Whether suit by Bank 39!-Sclzeme of composition between con1- pany and creditors-If binding on dissenting creditors. The ti:rst respondent company openeQ a cash~credit account with the appellant bank and on June 7, 1953 to secure repayment of the balance due at the foot df the account the first respondent company
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)