UTTAR GUJARAT S.R.V. SANGH LTD. vs M/S.MEHSANA DIST CENT.CO-OP BANK LTD&ORS

The Supreme Court held that the appellant, who was prevented from paying the sale proceeds to Respondent No. 1 due to an injunction order obtained by Respondent No. 3, should not be held liable for interest on the amount. The Court emphasized that the appellant had no privity of contract with Respondent No. 3 and was merely holding the money as per the court's direction. Consequently, the Court set aside the order of the Gujarat High Court, allowing the appellant to retain the sale proceeds without incurring additional liability.