Judgment

R. M. SAHAI, J. (Concurring with majority) :- Even though I respectfully agree with brother Venkatachala, J., that the order of the Madras High Court allowing the appeal of the insurance guarantor and dismissing the suit of the appellant corporation for recovery of the money is not liable to be maintained yet considering the importance of the legal issue involved in this appeal arising in day-to-day commercial dealings and absence of any authoritative pronouncement of this Court specially when the High Court has traversed wide field it appears appropriate to add a few words of my own.

2. Shortly the issue of law that arises for consideration in these appeals directed against judgment of Madras High Court is, if the suit filed after six months by the appellant, a public sector corporation, against Insurance Company was barred by time in view of the following recital in the Fidelity Insurance Guarantee.

"however, that the corporation shall have no rights under this bond after the expiry of (period) six months from the date of the termination of the contract."

What does it mean? Does it restrict the right of the appellant precluding it from filing suit for recovery of money from