Report No. 17

71. Section 63.-

A provision should be made in section 63 treating security deposits as trust property whether or not there is a stipulation for payment of interest, This would set at rest the conflict of decisions.1

1. See Travancore Puilon Bank Ltd. (in Re:), AIR 1939 Mad 337; Kshetra Mohan v. Official Liquidator, AIR 1943 Cal 105, and the cases referred to therein.

Back

Index

Next