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2011 Supreme(Raj) 1805

KAILASH CHANDRA JOSHI
Sarvodaya Suitings Ltd. – Appellant
Versus
State Bank Of India – Respondent


For the Appellant:R.K. Thanvi, Vinay Kothari, Advocate.
For the Respondent:M.C. Bhoot, Sr. Advocate, Surendra Singh, Advocates.

JUDGMENT

1. - This order will decide SB Civil Misc. Stay Petition No. 17190/2010 filed in SB Civil First Appeal No.369/2010.

2. The brief facts of the case are that the present appellant M/s. Sarvodaya Suitings Ltd. A Public Ltd. Company filed a suit in the court of learned District and Sessions Judge, Bhilwara against the present respondent State Bank of India , Bhilwara, seeking the following reliefs:

"1 Grant of a "Declaration with Decree" in favour of the plaintiff company against the defendant bank pronouncing the impugned derivative contracts described above at para 7 are null and void, illegal against the provisions of FEMA and violating the guidelines and circular instructions of RBI, against public policy and being of the nature of Wagering Contracts , be declared illegal, null and void, and not enforceable and that these contracts are not binding on the plaintiff company.

2 That permanent injunction be granted against the defendant bank providing so that the defendant bank shall not make any further debit entries in the cash credit No.10385818490/any other loan accounts of the plaintiff company and shall remove all the debit entries made by it in the regular cash credit limi




































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