https://www.taxtmi.com/caselaws?id=466408 A pledge and credit facility agreement can validly place the risk of loss of pledged goods on the pledger and preserve the lender's right to recover its dues. The Court found no legal basis to restrain the bank from proceeding with recovery merely because an insurance claim was pending or might later yield proceeds, which could instead be adjusted against the debt. It also held that the bank was not liable as an insurer of the pledged goods, and rejected reliance on agency principles where the contractual terms governed the parties' rights and obligations. en-us Tue, 25 Mar 2025 00:00:00 +0530 Fri, 06 Feb 2026 19:24:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466408 A pledge and credit facility agreement can validly place the risk of loss of pledged goods on the pledger and preserve the lender's right to recover its dues. The Court found no legal basis to restrain the bank from proceeding with recovery merely because an insurance claim was pending or might later yield proceeds, which could instead be adjusted against the debt. It also held that the bank was not liable as an insurer of the pledged goods, and rejected reliance on agency principles where the contractual terms governed the parties' rights and obligations. Case-Laws Indian Laws Tue, 25 Mar 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466408