| Citation(s) |
|---|
| 1962 SLG 2857 = 1962 SLD 2857 = 1962 PLD 376 |
Supreme Court of Pakistan
Civil Appeals Nos. 9-D and 10-D of 1961, decided on 10th May, 1962.
Presented By: A. R. Cornelius, C. J, S. A. Rahman and B. Z. Kaikaus, JJ
Asrarul Hossain Senior Advocate Supreme Court (Shaukat All Advocate Supreme Court with him) instructed by M. A Rab Attorney for Appellant. S. R. Pal Senior Advocate Supreme Court (B. N. Chowdhury Advocate Supreme Court with him) instructed by Abu Baekkar Attorney for
Respondent. Civil Appeal No. 10-D of 1961 S. R. Pal Senior Advocate Supreme Court (B. N. Chowdhury Advocate Supreme Court with him) instructed by Abu Baekkar Attorney for Appellant. Asrarul Hossain Senior Advocate Supreme Court (Shaukat Ali Advocate Supreme Court with him) instructed by M. A. Rab Attorney for
Respondent. Dates of hearing : 18th and 19th April 1962,
Civil Appeals Nos. 9-D and 10-D of 1961, decided on 10th May, 1962.
Presented By: A. R. Cornelius, C. J, S. A. Rahman and B. Z. Kaikaus, JJ
Asrarul Hossain Senior Advocate Supreme Court (Shaukat All Advocate Supreme Court with him) instructed by M. A Rab Attorney for Appellant. S. R. Pal Senior Advocate Supreme Court (B. N. Chowdhury Advocate Supreme Court with him) instructed by Abu Baekkar Attorney for
Respondent. Civil Appeal No. 10-D of 1961 S. R. Pal Senior Advocate Supreme Court (B. N. Chowdhury Advocate Supreme Court with him) instructed by Abu Baekkar Attorney for Appellant. Asrarul Hossain Senior Advocate Supreme Court (Shaukat Ali Advocate Supreme Court with him) instructed by M. A. Rab Attorney for
Respondent. Dates of hearing : 18th and 19th April 1962,
Civil Appeal No. 9-D of 1961 S. M. HANIF (DACCA) LTD.-Appellant
VERSUS
THE CENTRAL BANK OF INDIA LTD.-Respondent AND Civil Appeal No. 10-D of 1961 THE CENTRAL BANK OF INDIA LTD.-Appellant Versus S. M. HANIF (DACCA) LTD.-Respondent
Law:
Section:
(On appeal from the judgment and decree of the High Court of East Pakistan, Dacca, dated the 24th August 1960, in Civil Appeal No. 4 of 1959, arising out of Transferred Suit No. 1 of 1958). Exchange of currency----Rate as regards payment of bills -Relevant date is date "when bills mature"-Bills "at sight" presented for payment before date of devaluation of Pakistani currency in relation to India-Payable at pre-devaluation rate-- [Central Bank of India Limited v. Md. Islam Khan Civil Appeal No. 30-D of 1960 ; In re Tomkinson and another and First Pannaylvania Banking and Trust Co., United Railways of Havana and Regla Warehouses Ltd. (1961) A C 1007 rel.. Cummings v. London Bullion Co. Ltd. (1952) 1 K B 327 distinguished: Die Deutache Bank Filiale Nurnberg v. Charles Franklin Humphere (1926) 272 U S 517, 47 Sup. Ct. Rep. 166 considered]. Negotiable Instruments Act (XXVI of 1881)----S. 63- Acceptance of bill on expiry of 48 hours allowed by S. 63 Relatesback to date of presentment-Rate of exchange on such date to rule conversion of foreign bill into Pakistani currency for purpose of payment. Trusts Act (II of 1882)----Ss. 3 & 10-Payment to Bank, with an obligation annexed, that Bank would refund any excess found due as result of settlement of rate of exchange-Excess amount, held to be "sufficient conveyance in trust". Bills of lading--Submission of "clean" bills of lading along with bill of exchangeCondition for payment of bill of exchange on presentment-Bills of lading not "clean" when pre sented-Bills, held, not duly presented- Drawee does not incur liability for payment till satisfied by inspection of condition of goods in absence of "clean" bills of lading. Civil Appeal No. 9-D of 1961 JUDGMENT S. A. RAHMAN, J.---This order will dispose of two cross appeals, arising out of a suit, brought by S. M. Hanif (Dacca) Limited, for recovery of Rs. 3,29,981 from the Central Bank of India Ltd., Dacca, on the allegation that the Bank had exacted Rs. 2,79,581 in excess of the sum due to it in respect of an import transaction, involving foreign exchange,…