demand the
general balance due from the Petitioner No.2/Borrower
and that the Respondent No.1 is having a general lien for
the general ... general balance of account on any goods in the
possession of the Respondent/Bank belonging to
Petitioner No.1. The banker's general lien
general balance
of account any goods bailed to it. Section 171 of the
Contract Act, however, is a recognition of the right of
general lien ... lien can be exercised by bankers and in which
cases such lien cannot be exercised by bankers will, equally
apply to exercise of lien under
Banks to exercise general lien towards general
balance of account for any sum due to them, hence, general lien can be
exercised in respect ... expression Banker's lien. In
paragraph-6 of the judgment, the definition of lien and Banker's lien is
noticed in following words
cancelled, for the loan due, the Bank has a general lien on the
FD’s and appropriate the maturity amount, though the special lien over ... unlike a specific lien.
14.Therefore, even after the extinguishment of specific lien created for
issuance of Bank Guarantee, the general lien for the loan
cancelled, for the loan due, the Bank has a general lien on the
FD’s and appropriate the maturity amount, though the special lien over ... unlike a specific lien.
14.Therefore, even after the extinguishment of specific lien created for
issuance of Bank Guarantee, the general lien for the loan
customers debt is
settled. This right, also known as a general lien, enables the
banks to recover outstanding dues by holding onto the
customer ... Contract Act, which reads as under;
Sec.171 : General lien of bankers, factors,
wharfingers, attorneys and policy brokers.-
Bankers, factors, wharfingers, attorneys of a High
dated 30.12.2022.
/5/
Com.O.S.1776/2024
b. Letter of General Lien and Set off (AD-02A) dated
30.12.2022.
c. Letter of Continuity dated ... following documents:-
a. D.P.Note dated 20.01.2023.
b. Letter of General Lien and Set off (AD-02A) dated
20.01.2023.
c. Letter of Continuity dated
alienate the hypothecated goods dated 10.11.2020,
Ex.P.7/Letter of General Lien and Set-off agreement
dated 10.11.2020 and Ex.P.8/Interest rate ... alienate the hypothecated goods dated 10.11.2020,
Ex.P.7/Letter of General Lien and Set-off agreement
dated 10.11.2020 and Ex.P.8/Interest rate
alienate the hypothecated goods
dated 10.11.2020, Ex.P.7/Letter of General Lien and
Set-off agreement dated 10.11.2020 and
Ex.P.8/Interest rate ... alienate the hypothecated goods
dated 10.11.2020, Ex.P.7/Letter of General Lien and
Set-off agreement dated 10.11.2020 and
Ex.P.8/Interest rate
bank. It is important to note
here that right of general lien of banker is statutorily recognized in
Section 171 of the Indian Contract ... apart from any specific security, the banker can look to his general
lien as protection against loss on loan or overdraft or other credit
facility
