1. Plaintiff is in appeal against rejection of its plaint by the trial court applying the provision of Order VII Rule 11(d), C.P.C., by the impugned order.

2. In response to notice regarding admission, the respondent bank is duly represented. It has also filed in the form of a short paper book certain material reflecting the factual position.

3. I have heard the learned counsel on both sides, viz., Sri Dhananjay Joshi for the appellant and Sri B.S. Shashibhushan for the respondent, and examined the records in supplementation thereto.

4. Before I advert to the contentious issues raised by tree learned counsel on both sides, a brief reference to the factual matrix is necessary. It is:

(a) The appellant, a company incorporated under the Companies Act, is engaged in the business involving export of products and merchandise. Among several bankers with whom it is operating, it had transacted with the respondent bank.

(b) The appellant company claims to be one of the largest corporations with 15 automated factories across India having with it 7,000 machines. Being involved in export of garments and apparels, the receivables had to be calculated in foreign currency, namely United Stat