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