implied agreement
inconsistent with the lien.... The lien is
applicable to negotiable instruments which
are remitted to the banker from the customer
for the purpose ... general lien as a protection against loss on
loan or overdraft or other credit facility. The
general lien of bankers is part of law
merchant
Banker's lien is explained as under:
"Extent of lien - By mercantile custom the banker has a
general lien over all forms ... implied
agreement inconsistent with the lien....
...... The lien is applicable to negotiable
instruments which are ..... remitted to the banker from
the customer for the purpose
person in possession) are satisfied". Thus, from the expression
"bankers lien" it is cleared that Bank overall forms of security that ... right of the banker judicially recognised and in the
absence of an agreement to the contrary, a banker has a general
lien over such securities
show an implied
contract, inconsistent with lien.
14 A general lien is a valuable right of the banker judicially
recognised and in the absence ... securities deposited with him, in his character as a banker.
Bankers lien is confined to securities and properties in the
custody of the banker
controlled by the same persons, the respondent-
Bank extended its bankers lien to the current account of the
petitioner-Company, which is absolutely legal ... banker judicially and statutorily recognised in India. In the
absence of an agreement to the contrary, a banker has a
general lien over such securities
bankers were not entitled to do so. Joyce J. in particular
held :
"... It is true that the bankers have a general lien ... lien upon the securities of the customer
and not upon those of other persons, and the general lien
of a banker does not attach even
excess payment
made to her husband, in enforcement of the Banker's lien.
2. The applicant Pushpavally @ Pushpa is the widow of
Krishnan ... recovering the same. Therefore, the exercise of
right under the Banker's lien cannot be called in question. Even though
Annexure-R4(c) communication
Corporate Debtor'. It is submitted that
'Bankers Lien' over money held in a customer's account is a Statutory Right ... contention of the Learned Counsel for the Appellant Bank that the
Bankers lien over the money held in a customer's account
extract Sec.171 of the
Indian Contract Act:
“171. General lien of bankers, factors,
wharfingers, attorneys and policy brokers bankers,
factor, wharfingers, attorneys ... easy reference the same is
extracted as herein below.
“ 171. General lien of bankers, factors, wharfingers,
attorneys and policy brokers Bankers, factor, wharfingers,
attorneys
documents. It is
further submitted that petitioner-bank has the Banker's Lien under Section
171 of the Indian Contract Act to retain ... judgments to
contend that petitioner being a bank holds a banker's lien over the property.
i. Raj Kumar & anr. Vs Syndicate Bank
