https://www.taxtmi.com/caselaws?id=469673 Property in felled forest produce passed to the purchaser once the contractual conditions for delivery were met, but the State still retained a contractual and statutory first charge, with powers to retain possession and sell for unpaid instalments. Those security rights under the forest contract and the Indian Forest Act were treated as security for the debt. When Forest Officers allowed removal of the goods before payment was completed, the State impaired and lost that security without the surety's consent. The surety was therefore discharged to the extent of the value of the security lost. en-us Mon, 05 Sep 1966 00:00:00 +0530 Sat, 27 Jun 2026 13:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469673 Property in felled forest produce passed to the purchaser once the contractual conditions for delivery were met, but the State still retained a contractual and statutory first charge, with powers to retain possession and sell for unpaid instalments. Those security rights under the forest contract and the Indian Forest Act were treated as security for the debt. When Forest Officers allowed removal of the goods before payment was completed, the State impaired and lost that security without the surety's consent. The surety was therefore discharged to the extent of the value of the security lost. Case-Laws Indian Laws Mon, 05 Sep 1966 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469673