‘Amount deposited with the Registry should be deposited with banks to avoid loss’; Supreme Court asks Courts/Judicial Forums to frame guidelines
In a builder-home buyers’ dispute, the Supreme Court agreed with the builder ‘s argument that the rule embodied in Order XXI, Rule 4 of CPC, was applicable and the builder could not be fastened with any legal liability to pay interest after April 2005. The bench further opined that all courts and judicial forums should frame guidelines in cases where amounts deposited with the office or registry of the court or tribunal, should mandatorily be deposited in a bank or some financial institution, to ensure that no loss is caused in the future.
