overdraft that was sanctioned was a specific overdraft and not a temporary overdraft for a particular limit. The Bank took a stand that the overdraft ... what was granted was not a specific temporary overdraft facility but was a general overdraft facility for a sum of Rs.29 lakhs
prayer made in the OA in the background of the
Temporary Overdraft facility given as per the
Sanction Ticket dated 1.9.1997, marked ... sanction letter-temp,
overdraft-reg
This is with reference to your request for
temporary overdraft in your above said account
and the discussion you along
Packing Credit Bills purchased. Import Letter of Credit and Temporary Overdraft facilities availed by the 1st respondent together with interest thereon at the contract rate
from Sri K. Panju. After this, he had granted temporary overdrafts totalling Rs. 21,586 of 1998 to the firm Coastal Line Company, in which ... existence as per the circular, dated February 25, 1978, whereas the overdraft facility was given prior to this circular.
Finding : The overdrafts exceeded beyond
Crores on
01.06.2016; an overdraft facility of Rs. 4.70 Crores on 27.10.2016; and a
temporary overdraft of Rs. 1.00 Crore on 31.03.2017, totaling
Crores on 01.06.2016;
an overdraft facility of Rs. 4.70 Crores on 27.10.2016; and a temporary
overdraft of Rs. 1.00 Crore on 31.03.2017, totaling
Vishnuvardhan Granites, a partnership firm was granted certain loan
facilities such as a Temporary Overdraft at the Indian Bank, Mylapore
Branch, had deliberately cheated
determination in this appeal is whether the first defendant gave overdraft facilities to the plaintiff to the limit ... Madras and factory at Vaniyambadi; (b) temporary overdraft for discounting bills; and (c) additional overdraft facilities on the deposit of title deeds in respect
lacs
Foreign Bills Discounting Limit : Rs.111.67 lacs
Current Account Temporary Overdraft: Rs.4.06 lacs.
It is the case of the respondent-bank ... lacs
Foreign Bills Discounting Limit : Rs.60.08 lacs
Current Account Temporary Overdraft: Rs.7.71 lacs.
It is specifically stated that overdue
mere existence of an overdraft, cannot save foreign income from liability to taxation, as money paid out of the overdraft and remitted to this country ... find it necessary as a measure of convenience to obtain a temporary overdraft, or resort to a temporary borrowing which he proceeds to make good
