Supreme Court · 1967 INSC 14 · Decided 19 January 1967
R.B. Seth Jessaram Fatehchand v. Om Narain Tankha & ANR.
- Court
- Supreme Court of India
- Citation
- 1967 INSC 14 · [1967] 2 S.C.R. 429
- Case number
- CIVIL APPEAL No. 891/1964
- Decided
- 19 January 1967
- Bench
- K.N. WANCHOO, R.S. BACHAWAT, J.M. SHELAT (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Trust-Security deposited with co1npany by sole selling agent-In­ terest payable by company-Deposit allowed to be mixed with other funds -Deposit whether held by company as trustee-Matters to be taken into consideration. The appellant firm was appointed sole selling agent of a sugar manu­ for due perfor­ mance of the contract; this amount wao to carry interest at 6 per cent per annum. There was no restriction on the use of the said depoS1t by the company. According to cl. (9) of the agreement the security and mter­ est were to be refunded at the termination of the
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