Thursday, November 26, 2015

Lien/Right of Banker to set off

Lien/Right of Banker to set off
section 171 contact Act, lien / right of banker to set off — principle—Banker and customer – even under the law which provided for recovery through coercive process csuch as land revenue, determination of amount due is an essential pre-requisite—bank cannot be conferred with judicial powers for determination of amount due against its customer/borrower – right/power to sell off is available only where amount claimed is due and is certain and determined by competent judicial forum.
2015 SCMR 1341

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