LOONKARAN SETHIYA vs STATE BANK OF JAIPUR & ORS.

The Supreme Court held that the power of attorney executed by the appellant in favor of the Bank was irrevocable under Section 202 of the Indian Contract Act, as it was a power coupled with interest. The Court clarified that while the appellant's interest under the decree was not transferred to the Bank, the power of attorney constituted an equitable assignment of the amount due under the decree for discharging the debts owed to the Bank. The Court affirmed that the Bank could execute the decree under Section 146 of the Code of Civil Procedure, despite the application being made in the appellant's name, thus allowing the Bank to act in its own right.