Supreme Court of India
The Morvi Mercantile Bank Ltd. and Anr. v. Union of India, through the General Manager, Central Railway, Bombay
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
1 Supreme Court bench has cited this judgment.
What the Court ordered
We hold that Civil Appeal 474 of 1962 brought by the plaintiff-bank should be dismissed and Civil Appeal 475 of 1962 brought by the Union of Ind;a through the General Manager, Central Railway should be allowed with costs and the suit of the plaintiff-bank should be dismissed with costs throughout.
Judgment, page 22
In brief
M/s Harshadrai Mohanlal & Co., a Thana firm, consigned six boxes of menthol crystals to Okhla by the G.I.P. Railway under three railway receipts, all consigned to 'self'. The firm endorsed those railway receipts in favour of the Morvi Mercantile Bank against an advance of Rs. 20,000, and also executed a promissory note for that sum; the courts found the endorsement was for valuable consideration and that the loan, promissory note and endorsement together formed one transaction giving the Bank control of the goods until repayment.…
Authorities it was built on
- Ramdas Vithaldas Durbar v. S. Amarchand & Co
- The Official Assignee of Madras v. The Mercantile Bank of India, Ltd
- Commissioner for the Port Trust of Calcutta v. General Trading Corporation Ltd
- Inglis v. Robertson and Baxter
- Shamji Bhanji & Co. v. North Western Railway Company
Where later benches applied it
Of those, 1 referred to
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