https://www.taxtmi.com/caselaws?id=300022 The court ruled that the bank's lien cannot be applied to fixed deposits as they represent a debt owed by the bank, not a property subject to a lien. The court emphasized that fixed deposits do not constitute bailment under Section 171 of the Contract Act. The bank was directed to deposit the fixed deposit amount as it lacked authority to utilize the lien. Additionally, the bank had the right to adjust the fixed deposit money towards the customer's loan account in the absence of a court order prohibiting such action. The revision petition was dismissed without costs. en-us Thu, 11 Jan 1990 00:00:00 +0530 Sat, 08 Jan 2022 10:33:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300022 The court ruled that the bank's lien cannot be applied to fixed deposits as they represent a debt owed by the bank, not a property subject to a lien. The court emphasized that fixed deposits do not constitute bailment under Section 171 of the Contract Act. The bank was directed to deposit the fixed deposit amount as it lacked authority to utilize the lien. Additionally, the bank had the right to adjust the fixed deposit money towards the customer's loan account in the absence of a court order prohibiting such action. The revision petition was dismissed without costs. Case-Laws Indian Laws Thu, 11 Jan 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300022