WebCase Bank of Bihar v Damodar Prasad AIR 1969 SC 297 ... ##### S. Perumal reddiar v. bank of Baroda (1981) Madras HC ##### M.S. Anirudhan v. Thomco's bank Ltd. AIR (1973) SC 746 - Mr. Sankaran given loan under iverdraft scheme … WebCERTIFICATE This project titled Bank of Bihar Ltd. v Damodar Prasad – a brief analysis submitted to Symbiosis Law School, Hyderabad for Special Contracts I as part of my …
Bank of Bihar Ltd. Vs. Damodar Prasad & ANR [1968] INSC 185 …
WebTherefore, the surety cannot allege that the creditor should proceed against the security first and then the surety if the security value is found to be inadequate jointly or severally An analysis of Section 128 of the Indian Contract Act and the cases of Bank of Bihar Ltd. Vs. Damodar Prasad and Another [1969] 1 SCR 620 that the law gives the ... WebApr 30, 1992 · 11. In Bank of Bihar Ltd. v. Damodar Prasad “It is the duty of the surety to pay the decretal amount. On such payment he will be subrogated to the rights of the creditor under Section 140 of the Indian Contract Act, and he may then recover the amount from the principal. The very object of the guarantee is defeated if the creditor is asked to ... extremity\u0027s vx
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WebApr 8, 2016 · PETITIONER: BANK OF BIHAR LTD. Vs. RESPONDENT: DAMODAR PRASAD & ANR. DATE OF JUDGMENT: 08/08/1968 BENCH: BACHAWAT, R.S. … WebMay 11, 2024 · Hon'ble Supreme Court of India in the matter of Bank of Bihar Limited v. Damodar Prasad & Anr. 5, recognising the immediate liability of the surety to the creditor, observed the following: "The very object of the guarantee is defeated if the creditor is asked to postpone his remedies against the surety. In the present case the creditor is a ... WebTheconcerns ofthe Courtin Bank of Bihar v. Damodar Prasad,ll regarding the object of the guarantee seem tobe relevant in this case. If such winding up proceedings allowed the guarantor an embargo against the enforcement of a contract of guarantee, the pointof the guarantee, which is to allow for a safety netfor the creditorin the case of extremity\u0027s w0