Shimla, Jan. 4 -- In a rare legal battle between two leading banking institutions, Himachal Pradesh High court has directed the respondent bank to deposit the residual sale amount of a mortgaged property into the account of the petitioner bank.
A Division Bench, comprising Chief Justice, passed the order on Friday while disposing of a writ petition.
According to the two-page order-cum-verdict, the dispute arose between the two banks over the sale proceeds of a mortgaged property.
The total sale consideration of the property was Rs 1.17 crore. Out of this amount, the petitioner bank had already appropriated Rs 93.91 lakh. The remaining sum of Rs 23,48,470 was lying with the respondent bank.
Taking note of these facts, the High Court dire...