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Supreme Court of India. Amrit Lal Goverdhan Lalan vs State Bank Of Travancore & Ors on 11 April, 1968. Equivalent citations: 1968 AIR 1432, 1968 SCR (3) 724, AIR 1968 SUPREME COURT 1432. Author: V. Ramaswami. Bench: V. Ramaswami, J.C. Shah. PETITIONER: AMRIT LAL GOVERDHAN LALAN. Vs. RESPONDENT: STATE BANK OF TRAVANCORE & ORS. DATE OF JUDGMENT:
Feb 1, 2021 · FACTS: Respondents 3 to 6, as partners of Respondent 2 firm (R2), entered into an agreement with a Bank (R1) to open a cash credit account to the extent of Rs. 100,000 to be secured by goods to be pledged with the Bank.
Since this case involves a Contract of Guarantee involving three parties namely the Bank (Creditor), respondents (Principal Debtors), and the appellant (surety), the various provisions under the Indian Contracts Act, 1872 concerned with a guarantee were applied by the Court.
Amrit Lal Goverdhan Lalan vs State Bank Of Travancore & Ors on 11 April, 1968. During the pendency of the proceedings in the-High Court, respondent No. 1, State Bank of Travancore, a subsidiary of the State Bank of India was substituted in place of the Travancore Forward Bank Limited as successor-in-interest of the said Bank.
Nov 28, 2021 · Case Brief: Amrit Lal v State Bank of Travancore. Facts: On February 27,1956 a Partnership firm entered into a contract of guarantee with the former Travancore Forward Bank Ltd. Both parties entered into an agreement to set up a cash credit account to the extent of Rs.1,00,000.
Amrit Lal Goverdhan Lalan vs State Bank Of Travancore & Ors on 11 April, 1968. K. Viswanatha Iyer, Kutty Krishna Menon and R. Gopala- krishnan, for the appellant. C. K. Daphtary, Attorney-General, H. L. Anand, and K. B. Mehta, for respondent No. 1. The Judgment of the Court was delivered by Ramaswami, J.-.
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This document summarizes a 1968 Supreme Court of India case regarding the liability of a surety for a bank loan. The case involved an agreement between a bank and borrowers to open a cash credit account secured by pledged goods. The appellant had executed a letter of guarantee for the loan.
