9911796707
TMI Blog1989 (8) TMI 351X X X X Extracts X X X X X X X X Extracts X X X X ..... o 31-3-1973 by the respondents from the. sundry debtors of the petitioners towards realisation of these debts shall be deposited by the respondents in the Punjab National Bank Calcutta in the cash credit account of the petitioners. This amount will be kept and earmarked separately and shall not be withdrawn by the petitioners nor adjusted by the Bank as against the amount due to the Bank from the petitioners, until the decision of the writ petition. In the event of the respondents failing to make good their contention in regard to the amount due to the petitioners from the sundry debtors the respondents shall pay to the petitioners the interest on the amount to be deposited in the Bank under this order with effect from today until the dispo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urt passed the following order on September 24, 1987 on the agreement of Bharat Coking Coal Ltd. and the Petitioners: Punjab National Bank, Lyons Range Branch, Calcutta, is hereby directed to hand over to the Commissioner of Payment for Coking Coal Mines Camac Street, Calcutta, the sum of ₹ 10,12,778.87 (which was deposited in the cash receipt account of the petitioners on September 5,1973, under the order dated July 6, 1973 of this Court) together with interest (calculated at the rate at which the Bank charged the same to the petitioners) from September 5, 1973 up to the date of payment to the Commissioner of Payment for Coking Coal Mines. The said Commissioner will make disbursement of the amount so received by him in accordance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ondents including the Bharat Coking Coal Ltd., that the Bank is liable to pay interest, it is submitted by them that although this Court directed that the amount was to be deposited in the cash credit account, yet the intention of this Court was that it should be deposited in an account paying interest. The respondents have placed strong reliance on the subsequent order dated September 24,1987 whereby this Court specifically directed the Bank to pay interest and also specified the rate of interest. 10. After giving our anxious consideration to the contention made on behalf of the parties, we are of the view that the contention advanced on behalf of the Bank should be accepted. The order dated July 6,1973 clearly directed that the amount ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d understood the same in the light of the express direction made by this Court. Indeed, it appears from the copies of the ledger entries produced before us by the Bank that the Bank had not credited any interest in the Cash Credit Account No. 640. 12. The subsequent order of this Court dated September 24, 1987, on which strong reliance has been placed by the respondents, does not at all lend any support to their contentions. The said order was passed by the consent of the writ petitioners and the respondents without the knowledge of the Bank and without giving the Bank any opportunity of being heard. After the said order was passed by this Court to the prejudice of the Bank, the Bank had to make the present Civil Miscellaneous Petition f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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