CALCUTTA NATIONAL BANK LTD Vs. STATE

JUDGEMENT

(1.) This judgment is intended to deal with several claims on account of bills collected by the Banking Company in liquidation.

(2.) A banker employed to collect and remit money is under a fiduciary obligation to account for and to pay the money to his principal according to directions.

(3.) Ordinarily, the agency does not terminate on collection but continues until payment: --'W. Rule Pink v. Buldeo Dass', 26 Cal 715 (A); --'Babu Ram v. Ram Dayal', 12 All 541 (B).