THE 5TH DAY OF MAY, 1998 Present Honble Mr. Justice S.C. Agrawal Honble Mr. Justice G.T. Nanavati Sameer Parekh, Ms. Bina Madhavan, P.H. Parekh, Advs.
The learned companynsel for the respondent, on the other hand, supported the view taken by the Division Bench.
for the appellant M. Nargolkar, Adv.
for the Respondents.
J U D G M E N T The following Judgment of the Court was delivered NANAVATI.
J. Leave granted.
The respondent Federation applied tot he appellant bank on 5.6.1989 to open Irrevocable Letter of Credit for a sum of Rs.3,78,90,000/ in favour of M s. Shankar Rice Mills.
Pursuant to that request the Bank opened an Irrevocable Letter of Credit on leave to the Federation to defend the suit companyditionally upon the Federation depositing Rs.
The summons for judgment was disposed of accordingly and the Notice of Motion was dismissed.
Aggrieved by the order of the learned Single Judge in summons for judgment the Federation filed Appeal No.953 of 1994 before the Division Bench of the High Court and, against the order passed on Notice of Motion it preferred Appeal No.954 of 1994.
4 crores in the Court.
