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1 - 5 of 5 (0.21 seconds)Syndicate Bank vs Vijay Kumar And Others on 5 March, 1992
24. As rightly pointed out by the learned Senior Counsel for
the Bank in W.P.(C)15371 of 2014, merely on satisfying the
amount under the two gold loan accounts, the petitioners cannot
claim return of gold ornaments pledged by them with the Bank,
as a matter of right, in view of other subsisting liability. This is
for the reason that the Bank is having a 'general lien' in this
regard, by virtue of Section 171 of the Contract Act. This Court
finds support from the law declared by the Apex Court in this
regard as per the decision in AIR 1992 SC 1066. (Syndicate
Bank vs. Vijay Kumar and others. ).. This being the position,
the prayer raised by the petitioners in W.P.(C)No.15311 of 2014
is not liable to be granted.
The Code of Civil Procedure, 1908
Section 171 in The Indian Contract Act, 1872 [Entire Act]
Section 13 in The Securitisation And Reconstruction Of Financial Assets And Enforcement Of Security Interest Act, 2002 [Entire Act]
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