ISSAC ISSAC PORANGANAL HOUSE Vs. PALAI CENTRAL BANK LTD

JUDGEMENT

(1.) This appeal questions the correctness of the decision in B. C. C. No. 1105 of 1961. The order concerned Palai Central Bank Ltd. v. Jacob Cherian 1962 KLT 896 is a common order dealing with B. C. C. No. 1105 of 1961 and B. C. C. Nos. 194, 408 and 1003 of 1961.

(2.) The appellant had deposited a sum of Rs. 13,500/- with the Palai Central Bank Ltd. now in liquidation on 13-1-1959. The deposit was a fixed deposit repayable two years after the date of deposit. The wording of the receipt issued by the bank to the appellant was similar to that of Ext. P 11.

(3.) On 23 6 1959 the appellant executed a promissory note in favour of the bank and borrowed a sum of Rs. 10,000/-. Along with the promissory note the appellant also gave to the bank the fixed deposit receipt, stamped, signed and discharged as on the back of Ext. P 11, and a delivery letter and an instruction letter similar to Exts. P 9 and P 10 respectively.