1937 (2) TMI 10

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 77; 60 on condition that he furnished security to the extent of ₹ 2,500 in cash. It was agreed on behalf of the company that as the petitioner would be deprived of the use of the money for the period during which it was held as security by the Bank, the Bank would indemnify him by paying interest on the money at the rate of 5 per cent per annum. Further it was agreed that the money should be .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ave militated against the position taken up by the petitioner, because, in the ordinary way, if the Bank had to pay interest upon the security it might be assumed that it was intended that it should use the money in the banking business like any other deposit, so as to enable it to earn the interest which it had to pay to the cashier on his security deposit. In Official Assignee of Madras v. G. Sm .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X