1914 (8) TMI 3 - HC - Indian Laws

Summary

The appellant claimed full payment from the Liquidator of Bombay Credit Bank for a security deposit made in 1910. The money was transferred to a Security Deposit Account in 1911. The court held that the money was not trust property but a debt owed to the appellant, who is considered an ordinary creditor in the liquidation proceedings. The appeal was dismissed as a test case for others in the liquidation.