KULDIP SINGH, S.SAGHIR AHMAD
Indian Bank – Appellant
Versus
Satyam Fibers India Private LTD. – Respondent
JUDGMENT
S. Saghir Ahmad, J.-These are two appeals against the judgments of the National Consumer Disputes Redressal Commission, New Delhi.
2. The facts on record indicate that the respondent had entered into Contract No. 31/89 with a French Firm M/s. STE Kolori (for short, Buyer ) for supply of 1 lac metres of cotton grey sheeting of the value of French Franc 4,37,500/-. In due course, the goods were shipped to the Buyer and on 09.06.90, respondent drew two Bills of Exchange on the Buyer for French Franc 3,50,000/- and French Franc 87,500/-. The draft mentioned at the top that the Bills of Exchange had to be co-accepted by the Buyer s bank. These documents were sent by the appellant to that Bank on 18.6.90 as requested by the respondent but on 9.7.90, the documents were returned unpaid. However, on the instructions of the respondent, the documents were re-presented to Banque Leumi, Paris on 13.7.90. On 9.4.91, on the instructions of the respondent, a telex was sent to Banque Leumi, Paris to transfer the documents to another French Bank, namely, Societe Lyonnaise De Banque. Lyon, France, and on the same day, fresh Bills of Exchange dated 6.3.91 were sent to the French Bank at the re
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