https://www.taxtmi.com/caselaws?id=184991 The Supreme Court analyzed the validity of an equitable assignment based on a power of attorney and bill endorsement. The Court held that the power of attorney and bill endorsement constituted a valid equitable assignment of funds in favor of the Bank, creating an irrevocable interest in a specific fund for loan repayment. Consequently, the Court allowed the appeal, overturning the High Court's decision and reinstating the decree in favor of the Bank. The judgment clarified the irrevocable nature of such arrangements in securing loan repayments in commercial transactions. en-us Wed, 07 Aug 1968 00:00:00 +0530 Wed, 27 Jul 2016 14:26:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184991 The Supreme Court analyzed the validity of an equitable assignment based on a power of attorney and bill endorsement. The Court held that the power of attorney and bill endorsement constituted a valid equitable assignment of funds in favor of the Bank, creating an irrevocable interest in a specific fund for loan repayment. Consequently, the Court allowed the appeal, overturning the High Court's decision and reinstating the decree in favor of the Bank. The judgment clarified the irrevocable nature of such arrangements in securing loan repayments in commercial transactions. Case-Laws Indian Laws Wed, 07 Aug 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184991