Maintainability and pre-requisites

Respondent-company and statutory authority filed an interpleader suit under S.88, CPC before the civil court stating that they claimed no title in the certificates and were ready to pay the rental profits, and ultimately the principal amount, to whoever was determined to be the true owner by the court

Whether interpleader suit was maintainable in terms of proviso to S. 88, CPC

For an interpleader suit to be competent, firstly, there must be rival claimants; secondly, the same debt, sum of money or other property, must be claimed by two or more claimants, and thirdly, the person from whom such debt, sum of money etc. was being claimed must claim no interest in the same

Statutory authority and respondent-company were faced with several rival claimants

Disputed sukuk certificates which were claimed by the corporation and banks, represented the same debt, sum of money or other property

Statutory authority and respondent-company did not claim an interest in the disputed sukuk certificates, and had deposited the rental ijara payments along with the encashment value of the disputed sukuk certificates with the court

Three conditions precedent for an interpleader suit thus stood satisfied in the present case

Indemnity/undertaking obtained from the corporation by the statutory authority was not the outcome of some deceitful arrangement or some secret negotiations, and did not tantamount to collusion

Interpleader suit was held to be maintainable accordingly.