this Act, a Board may borrow moneys by means of temporary overdraft or otherwise by pledging the securities held by the Board in its reserve ... fixed deposits of the Board in its banks:
Provided that such temporary overdrafts or other loans- (a) shall not at any time have a longer
this Act, the Board may borrow monies by means of temporary overdraft or otherwise by pledging the securities held by the Board in its reserve ... fixed deposits of the Board in its banks: Provided that such temporary overdrafts or other loans shall not be taken, without previous sanction
India by a bank outside India: An AD may permit a temporary overdraft, for value not exceeding Rupees 5 billion or any other amount
issued by the 1 respondent bank with respect to
the Temporary Overdraft reveals that the said
temporary overdraft has been sanctioned by the
1st respondent ... prayer made in the OA in the background of the
Temporary Overdraft facility given as per the
Sanction Ticket dated 1.9.1997, marked
wherein, it was claimed that the overdraft that was sanctioned was a specific overdraft and not a temporary overdraft for a particular limit. The Bank ... would itself show that the overdraft sanctioned was only a specific overdraft and not a general overdraft.
27. Mr.K.S.V.Prasad, learned counsel
defendant approached
the plaintiff-Bank for grant of Temporary Overdraft facility in a
sum of Rs.2,00,000/- with an undertaking to repay ... defendant with the plaintiff-bank agreed to
serve the temporary overdraft facility and granted the overdraft
limit to the extent
cheque was paid in clearing by the plaintiff by
creating temporary overdraft facility. It is further stated that as a result of
payment of abovesaid ... account of defendant as defendant availed and utilized temporary overdraft in
the account maintained by him with the plaintiff. It is also alleged that
temporary
defendant No. 1;
that defendant No. 2 & 3 applied for Temporary Overdraft (TOD)
from plaintiff bank on 18.04.2001; that the defendant ... were
throughout irregular in making the deposits against the amount of
Temporary Overdraft and stopped depositing any amount in their
Current Account maintained with plaintiff
bank and that
the rate of interest with regard to temporary
overdraft account was @ 15 % p.a.
compounded quarterly.
4. It is further alleged that ... promise and assurance
given by him with regard to aforesaid
temporary overdraft and failed to repay the
amount with the bank along with prevailing
rate
approached him in August, 1973, and orally sought a temporary overdraft facility which the said Sathe agreed to sanction as it was for a temporary ... Sathe was as to whether he was authorised to give a temporary overdraft facility and Sathe asserted that he was so authorised to give such
