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[Landmark Judgement] Goa State Coop. Bank Ltd. V. Krishna Nath A. (2019) 

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Landmark Judgment Law Insider (1)

Published on: 21 September 2023 at 09:30 IST

Court: Supreme Court of India

Citation: Goa State Coop. Bank Ltd. v. Krishna Nath A. (2019) 

Honourable Supreme Court of India has held that the principle of restitution enjoins a duty upon the courts to do complete justice to the party at the time of final decision, and to do away with the effect of interim order in the fact situation of the case. It is held that no party can take advantage of litigation, it has to disgorge the advantage gained due to delay, in case lis is lost.

24. The concept of restitution is a common law principle and it is a remedy against unjust enrichment or unjust benefit. The court cannot be used as a tool by a litigant to perpetuate illegality. A person who is on the right side of the law, should not have a feeling that in case he is dragged in litigation, and wins, he would turn out to be a loser and wrongdoer as a real gainer, after 20 or 30 years. Thus, the members who have obtained stay in appeal or on recovery proceedings or the case is pending, cannot take advantage of the fact that the period fixed for the Liquidator under the Act is over.

Drafted By Abhijit Mishra