JUDGMENT :

KRISHNA RAO, J.

The plaintiff has filed the present suit against the defendants praying for a decree for a sum of US $428500 along with interest and pendent lite interest at the rate of 18% per annum and further interest at the rate of 18% per annum from due dates of payment of the Letters of Credit, or in the alternative decree for Rs. 4 Crores as damages.

CASE OF THE PLAINTIFF:

1. The plaintiff is a Company incorporated under the provisions of Companies Act, 1956 and is engaged in several businesses including trading and exports of agriculture products. The defendant no. 1 is a businessman who is carrying on the business at Bangladesh. The defendant no. 1 is an importer of agriculture products and he functions through various agents including the defendant nos. 2 and 3. The defendant no. 2 carries on business under the name and style of Mamun Brothers as Sole Proprietor at Bangladesh. The defendant no. 3 carries on business under the name and style of Shad Enterprises as a Sole Proprietor at Bangladesh. The defendant nos. 4 and 5 are the community brokers acting in tandem from the office of the defendant no. 5 at Kolkata. The defendant nos. 4 and 5 carry on business throug