Supreme Court of India
Bharat Nidhi Ltd. v. Takhatmal & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
In the result, the appeal is al!owed, the decree passed by the High Court is set aside ap.d the decree passed by the 1st Addi tional District Judge, Jabalpur, is restored.
Judgment, page 5
From the headnote
Debtor and Creditor-Power of attorney coupled with endorsement on bill by debtor in favour of creditor-Equitable assignment of future debt-If valid. The appellant-Bank, agreed to finance the contracts undertaken by M. and to advance monies against his bills for supplies under the contracts . . For the purpose of caTrying out this arrangement M executed an irrevoc· able power of attorney in favo1<r of the appellant authorising the latter to re.ceive all monies due or to become due to M in respect of pending or future contracts. M made a bill, endorsed it in fayour of the appellant for
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