primary object or
principal business of which is to provide
financial accommodation to its members for
agricultural purposes or for purposes connected
with agricultural activities
funds, the complainant stated that
the appellant had sought a 'financial accommodation' of
Rs.15 Lakhs and paid
bona fide commercial
transaction and were prepared only to secure financial accommodation for
the deceased Harshad Mehta and his group.
The prosecution further alleged that
dues were paid in full by M/s. John & Co. These financial agreements with Sethiya & Co. did not prove adequate to meet ... partners of M/s. John & Co. succeeded in obtaining another financial accommodation from Sethiya & Co. vide agreement Exhibit 168 : Exhibit
Citibank N.A. vs Juggilal Kamlapat Jute Mills Co. Ltd. on 17 May, 1982
Equivalent
defendant Company authorised the
2nd defendant to obtain financial accommodation from the
plaintiffbank to the extent of Rs. 15 lakhs under different
kinds of loans
secured
advances,
(c) the maximum amount of advances or other financial
accommodation which, having regard to the paid-up
25
capital, reserves and deposits ... interest and other terms and conditions
on which advances or other financial accommodation
may be made or guarantees may be given.
3) Every banking company
shall –
a) if it is satisfied that such institution has adequate
financial resources, accommodation, library, qualified
staff, laboratory and that it fulfills such other conditions ... teacher education. These norms, inter-alia, cover conditions
relating to financial resources, accommodation, library,
laboratory, other physical infrastructure, qualified staff
including teaching and non-teaching
July, 1948 Messrs. John & Co. obtained anoth-
er financial accommodation from Sethia & Co. Messrs. Tejka-
ran Sidhkaran had also given some advances ... partners of
M/S. John & Co. succeeded in obtaining another financial
accommodation from Sethiya & Co. vide agreement Exhibit 168:
Exhibit
making, or continuing to
make advances or otherwise giving credit or financial
accommodation or affording banking facilities for as long
as the Syndicate may think ... Borrower fully exhausted or exceeded or
howsoever the said financial accommodation varied or
changed from time to time; notwithstanding any
payments from time to time
