CiteTEXT
...-surety, the claim was kept alive by their own acts committing of the payments of interest on two occasions; that under Section 145 of the Indian Contract Act, the surety is...under the guarantee, within the meaning of Section 145 of the Indian Contract Act, and that he is entitled to recover it from the principal debt or, quite independently of...is not reasonable, in my opinion, to hold that he paid the sum wrongfully within the meaning of Section 145 of the Indian Contract Act when he paid it in satisfaction of a...
...under the circumstances Section 145 of the Indian Contract Act, 1872 as well as to two rulings (i) Vs. , reported in 2008(1) of All M.R.Union Bank of India Anjali Bhimrao...within the meaning of Consumer Protection Act, 1986. Hence, the revision is without merit. It stands dismissed. No order...
..., negotiated with Bank and paid a sum of Rs.7,27,024/- as full and final settlement. As per Section 145 of Indian Contract Act, the respondent is entitled to recover money...the following substantial question of law –(i) whether the provisions of Section 145 of the Indian Contract Act can be made applicable to the present case...appellant submitted that Section 145 of the Indian Contract Act [hereinafter referred to as “Act”] is not applicable to the facts of the present case. Only under compell...
...), where a similar point came up for decision. It was pointed out that the principle of law applicable is that laid down in Section 145 of the Indian Contract Act, relating...
...Putti Narayanamurthi Ayyar v. Marimuthu Pillai section 145 of the Indian Contract Act was referred to as though it directly governed a joint promisor's right...section 145 of the Indian Contract Act, and with the ruling in Putti Narayanamurthi Ayyar v. Marimuthu Pillai where it was held that; the cause of action under .... Section 140 of the Indian Contract Act.” This no doubt supports the view, for which the defendant contends. The question however was not before the learned Judges directly, and the...
...to pay the amount, the liability of the guarantor arises and it was accordingly KSFE proceeded against the petitioner. The issues are guided by the provisions of Indian Contract Act and if any recovery is effected against t...the Indian Contract Act.
5. That being...3rdrespondent to confine the recovery against the petitioner following the principles as provided under section 60(1)(i)of the Code of Civil Procedure, which read thus:
3...
...to Section 145 of the Indian Contract Act,1872 to the fact that in every contract of Guarantee, there is an implied promise by the Principal Debtor to indemnify the surety...Surety in regard to Contract with Debtor firm or Proprietary concern as the case may be. As per Section 145 of the Indian Contract Act, 1872 in respect of every ...in contract guarantee to a Corporate Debtor. Section 3(8) of IBC defines Corporate Debtor means corporate person who owes a debt of any person. In this case, it is not in dispute that by virtue of...
....
12. In every contract of guarantee as Mr. Sinha, learned counsel has referred to Section 145 of the Indian Contract Act, there is an implied promise by the principa...rejoinder and claimed their right in terms of Section 141 of the Indian Contract Act. Section 145 of Indian Contract Act provides implied promise to indemnify the surety.... The petitioners have now by taking recourse to Section 140 of the Indian Contract Act has filed this writ petition urging that the petitioner No. 1 should be provided all the rights of the creditor...
...discharged to the extent of the value of the security.
12. In every contract of guarantee as Mr. Sinha, learned counsel has referred to Section 145 of the Indian Contract ...the petitioners and the respondent No.1.
18. The petitioners, however, have filed a rejoinder and claimed their right in terms of Section 141 of the Indian Contract Act. ....
4. The petitioners have now by taking recourse to Section 140 of the Indian Contract Act has filed this writ petition urging that the petitioner No.1 should be provided all the...
...illegality and has raised a substantial question of law. Attention has been drawn to Section 145 of the Indian Contract Act, 1872, it reads as follows:145...is duty bound to indemnify the respondent bank/surety despite he is entitled for protection within the provisions laid down under Section 145 of the Indian Contract Act.c) Whether the...provisions laid down under Section 69, 129 and 145 of the Indian contract Act are rightly dealt with in the judgment and decrees passed by the Ld. Subordinate Courts...
...indemnification (in the event of they paying the amount to the Bank) from the principal Borrowers under Section 145 of Indian Contract Act would be unenforceable which is why the...Article 37 of Limitation Act, 1963, the question will get affirmative answer but if Article 36 governs the case, the answer will be in the negative. Both the provisions are reproduced for ready...applicant, the Tribunal may act upon the affidavit of the applicant who is acquainted with the facts of the case or who has on verification of the record sworn the affidavit in respect of the contents...
...initiated by the bank under the provisions of SARFAESI Act. It further held that plaintiff No.1 having paid the dues of defendant was entitled to be recompensed under Section 145 of the Indian Contract ...operation of Section 145 of the Indian Contract Act, the plaintiff No.1 is entitled to be indemnified by the defendant or her legal heirs to the extent they have succeeded to the property of the...of Rs.12,00,000/- raised by the defendant in 1995 would have cascaded beyond Rs.33,40,000/- by compounding the interest, etc.
16. By virtue of Section 145 of the Indian Contract ...
...the Bills of Exchange and therefore, they are entitled to recover the amounts payable under the Bills of Exchange from the defendants. The plaintiffs are relying upon Section 145 of the Indian Contract Act...amount under the Bills of Exchange from the defendants as per statutory provisions contained in section 145 of the Indian Contract Act."
...Exchanges and statutory provisions contained in Section 145 of the Indian Contract Act...."
10 Thus, the suit is based on Bills of Exchange and the claim for recovery of the...
...27, 2013, much after the compromise recorded on December 18, 2012. Under Section 145 of the Indian Contract Act, 1872 in every contract of guarantee there is an implied...defaulted. Post Dated Cheques given were returned dishonoured. Respondent No. 2 filed a petition under section 9 of the arbitration & conciliation act being OMP No. 1077/2012 before this Court. During...promise by the principal debtor to indemnify the surety and the surety can recover the sum that he has paid under the guarantee. The said section 145 reads as follows:-“145.Implied promise...
...obligation only to the extent the principal debtor has defaulted.18. Section 145 of the Indian Contract Act provides implied promise to indemnify surety. It provides that in every ...issue no. 11 (B), learned trial Court exonerated the respondents no. 3 and 4 on the ground that Section 139 of the Indian Contract Act. The guarantee given by the respondents...exonerated the respondents no. 3 & 4.12. Section 139 of the Indian Contract Act is provides as under:—“If the creditor does any act which is inconsistent with the rights...
...the Bank for initiation of the proceedings under the Code. In this connection the Learned Counsel for the first Respondent refers to Section 145 of the Indian Contract Act, 1872...concern’ as the case may be. As per Section 145 of the Indian Contract Act, 1872 in respect of every ‘Contract of Guarantee’, there is an implied Promise of the ‘Princip...Guarantor means the corporate person who is surety in contract guarantee to a Corporate Debtor. Section 3 (8) of IBC defines Corporate Debtor means corporate person who owes a debt of any person. In...
...element is present, it is impossible in my view to work out the rights and liabilities of the surety under the Indian Contract Act. Section 145 provides that in every ...contract of indemnity within, the meaning of the Indian Contract Act. Section 124 defines a contract of indemnity as being a contract by which one party promise...the debt of the creditor which has become due,—a right which is referred to in Mulla's note to s. 145 of the Contract Act, and is illustrated by the English case there...
...such the guarantor is discharged from his liability as per section 145 of the Indian Contract Act. In support of his submissions counsel has placed reliance upon following...provisions of Section 128 of the Indian Contract Act, 1872 the liability of the guarantor/ surety is co-extensive with that of the debtor. Therefore, the creditor has a right to obtain a ...court below lost sight of the law laid down in Section 21A of the Banking Regulation Act, 1949, which reads ad-infra...
.... 19. As per Section 145 of the Indian Contract Act, 1872 in every contract of Guarantee, there is an implied promise by the Principal Debtor to indemnify the ...it is the submission of Learned Counsel for the 1st Respondent/Bank/Financial Creditor that the liability of the Principal Debtor and Guarantor is co-extensive as per Section 128 of Indian Contract Act..., the application would be barred Under Article 137 of the Limitation Act, save and except in those cases where, in the facts of the case, Section 5 of the Limitation Act Company Appeal (AT) Insolvency...
...towards security for the chitty / loan transaction that will not take away the right of the appellants to seek indemnification under Section 145 of the Indian Contract Act, 1872....
19. It is also contended that the writ court had not considered the issue raised under Section 139 of the Indian Contract Act, 1872 which states that if the creditor does....
27. Section 145 dealing with implied promise to indemnify surety makes it clear that, in every contract of guarantee there is an implied promise by the principal debtor to indemnify the...