Home Case Index All Cases Companies Law Companies Law + HC Companies Law - 2013 (3) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (3) TMI 261 - HC - Companies LawFreezing of accounts - Petitioner having business dealings with M/s.Lakshmi Ganesh Textiles (P) Ltd., Coimbatore who in the course of business transactions issued a cheque towards part payment for the purchases made from the petitioner & the said cheque was honoured and subsequently when petioner issued cheques to third parties towards the amounts payable by him, but it was dishonoured stating that the account was freezed - Held that:- It is true that when the cheque was presented by the petitioner on 05.04.2012, the same was honoured, but earlier to the said date i.e. on 02.04.2012 itself, instructions were issued by M/s.Lakshmi Ganesh Textiles (P) Ltd., for stopping the payment referring to some dispute with regard to quality and quantity of the goods supplied by the petitioner. Though the receipt of such letter was acknowledged by the 3rd respondent on 03.04.2012, as explained in the counter affidavit, it appears, they have not uploaded it in the system for stop-payment alert, and due to the same, by oversight, the cheque, which was presented by the petitioner, was honoured and the amount was credited to his account. In view of the letter dated 02.04.2012, which was received by the 3rd respondent on 03.04.2012, it is a mistaken transfer, which falls within the scope of Section 72 of the Indian Contract Act, as per which, a person to whom money has been paid, or anything delivered, by mistake or under coercion, must repay or return it. As the bank has paid to the petitioner by mistake, contrary to the stop-payment letter dated 02.04.2012, it is the obligation on the part of the petitioner to pay- back such amount on his own. In view of such mistaken transfer and in view of the letter dated 23.04.2012, addressed by the 3rd respondent to the 2nd respondent, where the petitioner operates his account, the account is freezed to realise the amount, which was mistakenly transferred to his account - the petitioner is not entitled for the relief sought for in this writ petition.
|