( 1 ) THE PLAINTIFF M/s. Hindustan Zinc Ltd. , a government of India Enterprise, has filed the present suit for recovery under Order XXXVII CPC on the basis of irrevocable letter of credit (in short ILC) issued by punjab National Bank, Court Road, Muzaffarnager. Branch, defendant No. 2 in their favour. Defendant No. 4 M/s mohindra Steel Tubes Limited placed an order on the plaintiffs for purchase of furnace zinc weighing about 20. 146 metric tons at the unit price of Rs. 44,500. 00 per metric ton. The plaintiff agreed to supply furnace zinc and defendant No. 4 opened an ILC with dfendant No. 1 bank in favour of the plaintiff and the proceeds thereof were payable at Delhi. Defendant No. 2 Muzaffarnagar Branch of punjab National Bank opened an ILC bearing No. 3/93 on 20/08/1993 for a sum of Rs. 10 lakhs According to terms and conditions of the ILC, the sight draft for the recovery of the value of the material supplied to defendant No. 4 was to be accompanied by the documents like signed invoice in duplicate, copy of gross fob/fop/cif/c and F/cip ex-works value of the furnace zinc. The plaintiffs issued the delivery order on 2 4/08/1993 in favour of defendant No. 4 o