MANU/SC/0150/1968

IN THE SUPREME COURT OF INDIA

Decided On: 26.03.1968

Appellants: State of Kerala
Vs.
Respondent: Cochin Chemical Refineries Ltd.

JUDGMENT

Shah, J.

1. On October 9, 1950, a deed styled an "indenture of mortgage" was executed by the Cochin Chemicals and Refineries Ltd., - hereinafter called 'the Company' and N. C. John a Director of the Company, in favour of the State of Travancore-Cochin. The relevant terms of the indenture were :

"In consideration of the sum of Rupees 2.5 lakhs (2,50,000) borrowed by the mortgagor No. 1 from the mortgagee (the receipt of which sum m

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