other hand, contended that when the assessee, on account of the aforesaid novatio brought about by the provisions of the sanctioned scheme ... sufficient consideration. Mr. Patel, therefore, submitted that this was a case of novatio by which new rights were created, old right were extinguished
learned trial Judge has erred in relying upon the principle of novatio. He also submitted that the plaintiff had in fact paid Rs. 25 Lacs ... Judge had erred in coming to the conclusion that there is a novatio between the parties and the original contract dated
issued by SBI
to DLF for rendering lease assistance to Atul and novatio of the
agreement and thereafter, on April 30, 1996, the agreement ... entered into and it was
also provided that the parties to the novatio of the original three
agreements favouring SBI and as per Clause
bunkers and initiated proceeding to
recover the amounts of cheques, there occurred novatio of contract
and cause on the original contract did not survive ... such
issues. Against the contention of learned advocate Mr. Bhatt on
novatio, learned advocate Mr. Mehta submitted that the principles of
novatio will apply only
bunkers and initiated proceeding to
recover the amounts of cheques, there occurred novatio of contract
and cause on the original contract did not survive ... such
issues. Against the contention of learned advocate Mr. Bhatt on
novatio, learned advocate Mr. Mehta submitted that the principles of
novatio will apply only
arrangement under the
restructuring, replacing the old financial
arrangement, there was a novatio and old rights
and obligations were replaced and substituted by
new rights ... COMA/285/2011 CAV JUDGMENT
classified as NPA after novatio of old credit
facilities arrangement by new credit facilities
arrangement in the year 2004. Even
makes appropriate payments of the premium it might well operate as a novatio by which he would be accepted as the assured. It will thus ... provisions clearly show, unlike the case before Farwell J. that until a novatio takes place whereunder the contract is to be deemed to become
provisions of clause 3 of the managing agency agreement amounting to a novatio arrived at by the parties by mutual consent. The contention ... basis of a novatio cannot stand, for, in the first instance, no consideration for such a modification was either pleaded at any stage, much less
date, however thereafter same was
not further materialized as it needed the novatio of contract as
terms and conditions of the contract were required ... strong
prima facie case of the applicant in respect of novatio of
the contract. Merely because, the parties have
negotiated or that the correspondences
Assignment
is not a simple deed of assignment. It is a novatio also. It also
seeks to transfer the Company's and the guarantors ... permissible and is not effective. The said term seeks
to create a novatio without the consent of the Company and the
guarantors. None of their
