Al Wakeelo
Your Digital Lawyer, Always on Duty
Initializing Secure Chambers
Your Digital Lawyer, Always on Duty
Initializing Secure Chambers
Citation: 1970 SCMR 544
Court: Supreme Court of Pakistan
Year: 1970
Decision Date: 1970-04-01
Parties: MURLI MALL KAPUR vs LAKSHMI COMMERCIAL BANK LTD. AND 2 Other
Case cited as 1970 SCMR 544
Court Name: Supreme Court of Pakistan Judge(s): Mujibur Rahman Khan, Sajjad Ahmad Jan, Muhammad Yaqub Ali Khan Title: MURLI MALL KAPUR vs LAKSHMI COMMERCIAL BANK LTD. AND 2 Other Case No.: Civil Appeal No. 8-P of 1967 Date of Judgment:1970-04-01 Reported As: 1970 SCMR 544 Result: Appeal dismissed JUDGMENT JUDGMENT M. R. KHAN, J.- This certificated appeal arises out of a suit for recovery of money. The suit was brought by the Lakshmi Commercial Bank Ltd. Against Messrs Murli Mall Kapur & Company, a partnership firm of which Bhagwan Dass, Murli Mall Kapur and Ramsaran Kapur are the partners. These partners of the firm opened a Cash Credit Account with the plaintiff-bank on the 29th July 1946 up to a limit of rupees one lakh. The partners executed a promissory note on the said date in favour of the bank to the above extent. They also simultaneously executed an agreement. In pursuance of the promissory note and the agreement, the partners, who are hereinafter called "the defendants", started withdrawing money from the bank and making deposits from time .To time on the hypothecation of their stock of tobacco. As a result of accounting, a sum of Rs. 44613-3-0 was found due from the defendants on the 30th June 1947. In the suit, the plaintiff-bank claimed for the recovery of Rs. 45,765-6-9 including interest for the period from 30-6-1946 to 30-6-1950. The suit was brought on the 3rd July 1950. Murli Mall Kapur, one of the partners contested the suit denying liability for the…
Read the full judgment on Al Wakeelo — Pakistan's AI-powered legal research platform.