Law: Transfer of Property Act (IV of 1882)

Section: 58(f)

  Witness---Examination on commission No reciprocal arrangements between Governments concerned-Evidence of Indian National obtained on open commission, held, not legally recorded Civil Procedure Code (V of 1908), O. XXVI, r. 5.   The Hanover Fire Insurance Company v. Messrs Muralidhar Banechand P L D 1958 S C (Pak.) 138 rel.   Transfer of Property Act (IV of 1882), S. 58(f)-Equitable mortgage by deposit of title deeds-Title deeds may be deposited under oral agreement to cover both existing and future debts.   Behram Rashid Irani v. Sarabji Rustamji Elavia I L R 38 Bom. 372; Jaitha Bhima and another v. Haji Abdul Vyad Osman I L R 10 Bom. 634 and Mohini Mohan Saha v. Deb Narain Samanta and others 40 C W N 1277 approved.   Registration Act (XVI of 1908), S. 17 (b)-Mere recital does not require registration.   Limitation Act (IX of 1908), Arts. 85 & 57-Suit on mutual, open and current account-Art. 85 and not Art. 57 applicable.   The Reliance Bank Ltd. v. Prafulla Kumar Banerjee and others P L D 1953 Dacca 200 rel. JUDGMENT   HASAN, J.-This appeal is at the instance of the defendants against a judgment and decree passed in a suit for recovery of Rs. 1,35,849-11-3 instituted by the plaintiff, the Pioneer Bank Ltd., under liquidation.   The plaintiff's case in short is as follows:   The defendants opened a current account No. 382 with an initial deposit of Rs. 6,000. After that there was withdrawal and also deposit by the defendants. On the 7th March 1945 plaintiff called upon the defendants to furnish security as their overdrafts stood to Rs. 1,08,146-8-6. The defendants on the very same date deposited their title deed as a security of the said dues and also for the future debt to be occurred by the defend ants and executed a promissory note for a sum of Rs. 1,10,000, Thereafter on the 8th March 1945, the defendants sent a confirmatory letter regarding the intention of creation of equitable mortgage in favour of the plaintiff. The defendants overdrew by 28th April 1948, to the extent of Rs. 1,04,306-0-6. The Bank closed functioning on the 14th September 1948 but again began to function from 1950 on the…