INDERMEET KAUR
B. G. CREATIONS PVT. LTD. – Appellant
Versus
STATE BANK OF SAURASHTRA – Respondent
INDERMEET KAUR, J.
1. This application has been filed by the applicant namely the Citi Bank A.S. Turkey who has prayed for impleadment in the present suit.
2. Present suit is suit for permanent injunction. The prayer made in the application is that the defendant no.1 Bank i.e. the State Bank of Saurashtra, now known as the State Bank of India be restrained from making any payment in pursuance of letter of credit dated 7.12.2005.
3. Plaintiff was a company engaged in the business of trading of food-grains. A supply order of chickpeas had been placed upon defendant no.2 whereby defendant no.2 was required to make this supply to the plaintiff. In pursuance of this agreement plaintiff asked its banker defendant no.1 to issue a letter of credit in favour of the banker of defendant no.2. Accordingly, the aforementioned letter of credit dated 7.12.2005 was issued by defendant no.1 in favour of the banker of defendant no.2. Defendant no.2 was indicated as the beneficiary. On inspection of the consignment the plaintiff found the goods to be defective. He has accordingly prayed that this letter of credit issued by defendant no.1 be not enforced in view of this fraud played by
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