Rajiv Sahai Endlaw, J.—The plaintiff, a partnership firm has instituted this suit for declaration that the “Structured Currency Option” Agreements dated 14th January, 2008 and 1st February, 2008 entered into between the plaintiff and the defendant Bank are agreements by way of wagers hit by the bar of Section 30 of the Indian Contract Act, 1872 and are consequently void and unenforceable and for permanent injunction restraining the defendant Bank from in any manner acting upon or seeking to enforce any transaction under the said agreements, pleading:-

(i) that the defendant Bank approached the plaintiff to provide credit facilities for the business of exports by the plaintiff firm to United Kingdom;

(ii) that during the discussions in this respect, the defendant Bank advised the plaintiff to enter into a 5-year Foreign Exchange Leveraged Derivative Transaction with the defendant Bank, assuring the plaintiff that this was a completely risk-free transaction;

(iii) on 8th January, 2008 the defendant Bank made the plaintiff sign “ISDA 2000 Master Agreement” containing general terms and conditions to be signed by every customer entering into the suggested Leveraged Derivative