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 limits/accounts/ facilities of the plaintiff company and to reinstate/ present/bring out the correct position of the plaintiff company s cash credit account No.10385818490 after removing /reversing all such derivative contracts related debit entries.

3 The defendant bank be ordered to be bound in such a manner that it shall not treat the plaintiff company as responsible for and bound by the said derivative contracts and that the defendant bank shall not proceed against the plaintiff company and shall not take any action against the guarantors of the company and that the defendant be obliged to maintain unrestricted use and continuity of the existing credit facilities sanctioned in favour of the company. Defendant bank be restrained from making any debit entries related to the impugned derivative contracts in the regular sanctioned cash credit limit/ account of the plaintiff company and remove the entries made in the past to set right the plaintiff company/s cash credit account.

4 Defendant bank be restrained by injunction restraining the defendant bank and their agent, servants and men from in any way mixing up the transactions, losses/profits of the derivative contracts with any other transactions or accounts. Defendant bank be restrained from making any recovery of the alleged derivative losses.

5-Any other relief as may be apt and legally valid and may be considered necessary in the interest of the company by the Hon ble Court in its own discretion considering the facts and circumstances of the case and the Hon ble Court may be pleased to grant a decree order to this effect. It would be necessary and appropriate to grant the requested relief to the plaintiff company in the interest of justice, equity and good conscience.

6 An award be ordered with regard to the costs of the suit."

3. The respondent defendant filed an application under Order 7, Rule 11 Civil Procedure Code praying for the rejection of the plaint on the ground that the suit is barred by law and the learned Addl. District Judge, Bhilwara, in whose court the case was transferred for trial vide order dated 27.10.10 accepted the application filed by the respondent defendant under Order 7, Rule 11 Civil Procedure Code and dismissed the suit of the plaintiff appellant.

4. Aggrieved by that order the present appellant plaintiff filed SB Civil First Appeal No.369/2010 in this Court along with an application under Order 39. Rule 1 and 2/151 Civil Procedure Code praying that during the pendency of the present appeal and its final disposal, the respondent defendant may be directed not to debit any money in any other account of the appellant Company for the transactions relating to derivative contracts or any other appropriate order or direction which this Court may deem fit and proper in the facts and c