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1 - 6 of 6 (0.20 seconds)Syndicate Bank vs Vijay Kumar And Others on 5 March, 1992
10. Coming to refund of aforesaid amount of F.D.R. with interest, only the decision in Syndicate Bank v. Vijay Kumar and Ors. I (1992) BC 324 (SC) : (1992) 2 SCC 330 - need be noticed. Para No. 6 of the judgment which is material is reproduced as under:
Union Bank Of India vs K.V. Venugopalan And Ors. on 11 January, 1990
12. Decisions in R.K. Agencies Ltd. v. Central Bank of India , Union Bank of India v. K.V. Venugopalan ; and Brahmayya & Co. v. K.P. Thangavelu Nadar and Ors. AIR 1956 Madras 570 relied upon by Ms. Khatra are of no assistance to the respondent. Order of State Commission directing refund of the amount of above FDR with interest being legally erroneous deserves to be set aside.
Section 4 in The Interest Act, 1978 [Entire Act]
S. Kotrabasappa vs Indian Bank on 30 April, 1987
5. Decision in S. Kotrabasappa v. The Indian Bank AIR 1987 Karnataka 236 arose out of a suit filed by the respondent bank against the appellant/defendant for recovery of Rs. 1 lakh plus Rs. 33,438.75 as interest etc. It was, inter alia, alleged by the respondent that appellant was maintaining account with it and on 14.6.1980 the bank received TT (Telegraphic Transfer) advice from their R.S. Puram, Coimbatore Branch to credit to the account of appellant a sum of Rs. 1 lakh which was credited and drawn by the appellant the same day. On receipt of confirmation telegram on 21.6.1980 by mistake a further sum of Rs. 1 lakh was credited to the account of appellant, bonafidely believing that it was another T.T. advice. Appellant taking unfair advantage of the mistaken credit transfer, withdrew the said amount on 21.6.1980. It was alleged that after nearly two years the respondent was informed that there was wrong credit on 21.6.1980. Therefore, it approached the appellant on 13.7.1982 and explained the circumstances under which payment was made without receipt of T.T. on 21.6.1980. Since appellant failed to repay the said amount, suit was filed which was decreed by the Trial Court. While upholding the judgment of Court below the Karnataka High Court held that in case of mistaken credit in the account of a person by bank the person utilizing the amount is bound to repay/return money in view of Section 72 of the Contract Act with interest under Clause (b) of Sub section (2) of Section 4 of the Interest Act, 1978.
R.K. Agencies Ltd. vs Central Bank Of India on 26 March, 1991
12. Decisions in R.K. Agencies Ltd. v. Central Bank of India , Union Bank of India v. K.V. Venugopalan ; and Brahmayya & Co. v. K.P. Thangavelu Nadar and Ors. AIR 1956 Madras 570 relied upon by Ms. Khatra are of no assistance to the respondent. Order of State Commission directing refund of the amount of above FDR with interest being legally erroneous deserves to be set aside.
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