Legal Street registered trademark

Supreme Court of India

Shree Ambica Medical Stores & Ors. v. The Surat People’s Co-operative Bank Limited & Ors.

Neutral citation
Bench Dr. Dhananjayay Y Chandrachud and Ajay Rastogi JJ.
Decided 28 January 2020

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.

6 Supreme Court benches have cited this judgment.

What the Court ordered

For the above reasons, we are of the view that there is no merit in the present appeal.

Judgment, page 15

From the headnote

Insurance Act, 1938 – s.64(VB) – Appellants hypothecated goods with first respondent-bank under an agreement for cash credit facility – Appellants were obligated to insure the goods hypothecated to the Bank – Bank, as a routine practice, obtained policies for all its borrowers and upon receipt of intimation, would remit the premium payable on behalf of the borrowers – Bank obtained first insurance policy for 1998-99 in sum of Rs.60 lakhs, from insurer-third respondent, which covered specific location (“12/1123-1124, Basement, Meghdoot Apartment, Surat”) of the borrower where goods were stored…

Authorities it was built on

Where later benches applied it

Of those, 2 referred to · 4 mentioned

Sign in free to read it

  • The full judgment, page by page, as published in the Supreme Court Reports
  • The ratio: what the Court held, verbatim, with the page it sits on
  • Every bench that relied on it, and every bench that argued against it
  • Search every reported judgment, by party, citation or question
  • Download the PDF, copy pinpoint citations ready for a filing
Sign in to read - for free

An email address, no password.