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...on December 19, 1929, upon the ground that the omission of the plaintiff to sue the principal debtor discharges the sureties under Section 134 of the Indian Contract Act.... Where the creditor allows his remedy against the principal debtor to be barred by limitation, the surety is discharged under Section 134 of the Indian Contract Act. Th...which it was held thatthe omission of a creditor to sue his principal debtor within the period of limitation discharges the surety under Section 134 of the Indian ...
...proceedings under the IBC discharging the corporate debtor will also discharge the guarantors. In this regard, it is pertaining to refer to Section 134 of Indian contract Act which laid down that ...discharge of the principal creditor".
Hence going by section 134, sureties can be discharged by contract between the parties or by Act or omission or legal consequence...surety is discharged by any contract between the creditor and principal debtor by which the principal debtor is released or by any Act or omission of the creditor the legal consequence of which is the...
...is now called upon to decide as whether the proceedings under the IBC discharging the corporate debtor will also discharge the guarantors. In this regard, it is pertaining to refer to Section 134 of Indian ...".
Hence going by section 134, sureties can be discharged by contract between the parties or by Act or omission or legal consequence by which the principal debtor is discharged. Hence...Court which resulted in dismissal of the appeal. The Hon"ble Supreme Court after considering the matter in issue held that it is not open to the Company judge to make any order under the Companies Act...
...have any effect on the liability of the Bank i.e the guarantor. Under Section 128 of the Indian Contract Act, the liability of the surety is coextensive with that of the princip...as per the terms of the bank guarantee referred to above. Thereupon, the Official Liquidator filed an application under Section 456(2) of the Companies Act, 1956 read with Rule 9 of the Companies...the Indian Contract Act by any contract between the creditor and the principal debtor by which the principal...
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...as per Section 134 of Indian Contract Act, 1872, a guarantor is discharged of its liability towards the creditor only if the creditor on its own instance discharges the principal debtor. ...of Personal Guarantors are co-extensive with that of Principal Borrower. As per the Section 134 of the Indian Contract Act, 1872 a guarantor is discharged of its liabili...for recovery but for revival. Further as per Section 134 of the Indian Contract Act, 1872, a guarantor is discharged of its liability towards the creditor only if the creditor on its own ...
...suit can lie against the sons.
4. The next question is--are the sureties liable ? The determination of this question depends upon the construction of Section 134 and ...debtor is not discharged by lapse of time may also be gathered from Section 25, Clause 3, and Section 6O of the Indian Contract Act IX of 1872. A barre...not discharge the principal debtor, the surety is not discharged under Section 184 of the Indian Contract Act. It has been argued that the surety will be discharged if he...
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...Section 134 of the Indian Contract Act, which reads as follows:-“The surety is discharged by any contract between the Creditor and the Principal Debtor, by which t...Prayer:- This Civil Revision Petition filed under Section 115 of Code of Civil Procedure, to set aside the decree and judgment passed in E.P No. 2468 of 2015 in...Debtor is released, or by any act or omission of the Creditor, the legal consequence of which is the discharge of the Principal Debtor.”3. Relying on the above said provision, the...
...considering the various provisions like Section 126, 128, 134, 139 and 140 of the Indian Contract Act, then in para9 of its judgment, the Andhra Pradesh High Co...which arose for consideration was whether the suit has abated as a whole i.e. against the defendant no.2 as well? Then, after considering the provisions of Section 134 of Indian ...matter of the suit there will be conflicting decisions. 27. Thus the consistent legal view regarding Section 134 of the Indian Contract Act,...
...Section 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002. It ..., in substance what is challenged is the measure undertaken by respondent under Section 13(4) of Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002...(in short “the Act”), against which, efficacious alternative remedy as provided under Section 17 of the Act is available. Even after approaching the formate under Section 17 of the Act th...
.... 5. Learned counsel for the petitioner pointed out from Section 134 of the Indian Contract Act, 1872 and he has cited paragraph 7 of The Law Relating To G...Edition of S.N.Gupta. Paragraph 7 reads as under:- 7. Consent Decrees-When discussing Section 134 of the Indian Contract ...decree and not the writ jurisdiction. The contentions that Section 134 of the Indian Contract Act, 1872 read with paragraph 7 cited supra cannot be appreciated in the present writ petition, since...
...limitation, the 5th defendant was also, therefore discharged under Section 134 of the Indian Contract Act. We may point out that this is clearly erroneous. If the suit b...Section 30 of the Negotiable Instruments Act.
2. The 1st contention is governed by Section 98(c)...Instruments Act which runs as follows--
" No notice of dishonour is necessary when the parties charged could not suffer damage for want of notice...
...under the law.It cannot be said with any degree of plausibility that the right to withdraw or revoke is a natural right of an applicant under section 134 of the Act. There is no off...when an application under Section 134 of the U.P.Z.A & L.R Act is moved by a Sirdar.Even if the meaning of the words used in section 5 of the ...they had contracted. The grant of declaration under Section 134 of the U.P.Z.A & L.R Act by the Assistant Collector is only the statutory recognition of the rights to which the applicant is entitl...
...arose for decision was as to whether the suit has abated as a whole i.e against defendant No. 2 as well4. Section 134 of the Indian Contract Act, 1872...continuance of the suit against the guarantor would not arise. Claim against the guarantor was not divisible; it was not an independent claim. Section 134 of the Indian Contract ...(hereinafter referred to as the ‘said Act’) reads as follows:—“134. Discharge of surety by release or discharge of principal debtor.- The surety is discharged by any contract between the...
...auction purchaser has to be impleaded as a party once the sale has been conducted.
Ld. Counsel for the Sarfaesi applicant has referred to Section 134, 135, 137 & 143 of the ....
Section 134 of the Indian Contract Act, 1872 speaks that:
"Discharge of surety by release or...
Delivered on 30th July 2024 The Sarfaesi Applicant has filed an application under Section 17 of the Sarfaesi Act, 2002 challenging the Sarfaesi action of the Respondent Bank under ...
...revoke is a natural right of an applicant under section 134 of the Act. There is no offer or acceptance within the meaning of section 5 of the Indian ...application under section 134 of the UPZA & LR Act is moved by a Sirdar.Even if the meaning of the words used in section 5 of the Indian ...Collector 1st class Mohammadi district Kheri under section 134/136-A of the UP Zamindari Abolition & Land Reforms Act for the issuance of sanad Bhumidhari in respect of ...
...for the petitioner-bank has placed reliance upon section 134 of the Indian Contract Act, 1872, which relates to discharge of surety by release or discharge ...section 134 of the Indian Contract Act, 1872, since there was no contract between the bank (creditor) and the company.14. This submission ..., therefore, be urged by the bank that in view of section 134 of the Indian Contract Act, 1872, the surety is not discharged. The official liquidator had steppe...
...turns upon the true construction of several sections of the Indian Contract Act, the first and most important of which is Section 134. This provides th...been the discharge of his principal debtors. The decree is dead, and they are released from all responsibility under it. The sureties then would, under the rule of Section 134 of the ...decree being the discharge of the principal debtor, the sureties would, under Section 134 of the Contract Act, st...
....5. The learned counsel for the applicants relied upon three sections of the Indian Contract Act, namely, Ss. 56, 63 and 134. It was also said that on the applicat...by, the surety bonds.12. Section 134 of the Indian Contract Act governs the discharge of surety by release or discharge of principal de...contract. Section 56 of the Indian Contract Act is applicable to only those agreements which relate to the doing of an impossible act or an ...