ICICI BANK LIMITED Vs. KAAVERY EDUCATION TRUST

JUDGEMENT

(1.) (a). The defendants are the appellants herein.

(2.) Learned counsel for the appellant submitted that it is only for movables and not for immovables and this has triggered the plaintiff to withdraw the consent and accordingly, as per Ex-A15, the plaintiff informed the Bank to not to proceed further and asked for refund.

(3.) After trial, the learned District Judge has held that the clause contained in sanction letter and deed of hypothecation are contrary to Sec. 23 of the Indian Contract Act and accordingly ordered refund and hence the Appeal.