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2010 Supreme(Del) 1115

RAJIV SHAKDHER
Tirupati Texknit Limited – Appellant
Versus
Allahabad Bank – Respondent


Advocates Appeared:
Mr. Rajiv Bansal, Advocate for the Plaintiff.
Mr. Ashim Vachher, Advocate for the Defendant.

Rajiv Shakdher, J.

1. This is a suit filed by the plaintiff for recovery, rendition of accounts, and delivery by the defendant of: list of unpaid instruments; computers; floppies; paid instruments in original; and copies of returns of different branches of the defendant. The relief of delivery is essentially sought against the defendant with respect to details of paid and unpaid refund orders issued qua unsuccessful applicants of the public issue of shares of the plaintiff.

1.1 The core issue in the suit is essentially the plaintiff's grievance that it had appointed the defendant through the aegis of Bank of Credit and Commerce International (Overseas) Ltd. (hereinafter referred to as `BCCI') as the banker for handling refund orders, in respect of over-subscribed public issue of equity shares, made by it, in January, 1990. A mandate which, according to the plaintiff, required the defendant to fully account for the money received for the said purpose by the defendant. The plaintiff has sought recovery of a sum of Rs. 5,73,072/- along with interest at the rate of 18% per annum w.e.f. 03.04.1997; and rendition of accounts with respect to the amounts actually disbursed; consequential rep

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