Supreme Court · 1999 INSC 405 · Decided 15 September 1999
State Bank of Bikaner and Jaipur v. M/S. Ballabh Das and CO. and ORS.
- Court
- Supreme Court of India
- Citation
- 1999 INSC 405 · [1999] SUPP. 2 S.C.R. 465
- Case number
- CIVIL APPEAL No. 5069/1999
- Decided
- 15 September 1999
- Bench
- G.T. NANAVATI, S.N. PHUKAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Constitution
Headnote
B Recovery of Debts Due to Banks and Financial Institutions. Act, 1993. Ss.2(a), 17,18,31 and 34-Recovery of debts due-Money borrowed from Bank for export of goods-Insurance cover in favour of bank against C any loss-Delivery of export documents to the bank-Insurance cover stipulating that by the exporter-Default in payment by foreign buyer­ Liability of exporter-Whether stood discharged? Held, No, despite the delivery of export document, exporters liability as principle debtor continues D to subsist. Ss.17, 18, 31 and 3 4--Suit for recovery of debts due-Constitution of Debts
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