https://www.taxtmi.com/caselaws?id=197482 The note explains that a written cash credit agreement governed the pledge arrangement and could not be varied by oral evidence. It also records that the pledged stock's value was proved from the available stock evidence, while the alleged takeover by the Pakistan authorities was not established in full and could not relieve the bank without proof of the foreign law relied on. The bank was treated as having exclusive possession of the pledged goods, but in the exceptional post-Partition circumstances it was found to have taken reasonable care as a bailee, so no liability arose to account for the goods or pay their price. The suit was maintainable, but the bank's set-off failed because it was barred by limitation, lacked court fee, and was unavailable under the Displaced Persons (Debts Adjustment) Act, 1951. en-us Thu, 17 Jul 1975 00:00:00 +0530 Mon, 08 Jan 2018 16:55:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=197482 The note explains that a written cash credit agreement governed the pledge arrangement and could not be varied by oral evidence. It also records that the pledged stock's value was proved from the available stock evidence, while the alleged takeover by the Pakistan authorities was not established in full and could not relieve the bank without proof of the foreign law relied on. The bank was treated as having exclusive possession of the pledged goods, but in the exceptional post-Partition circumstances it was found to have taken reasonable care as a bailee, so no liability arose to account for the goods or pay their price. The suit was maintainable, but the bank's set-off failed because it was barred by limitation, lacked court fee, and was unavailable under the Displaced Persons (Debts Adjustment) Act, 1951. Case-Laws Indian Laws Thu, 17 Jul 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=197482