AMIT RAWAL, J.

1. Petitioner-M/s Jindal Impex, through its Sole Proprietor Shri Kuldip Jindal, who wanted to be impleaded as defendant No.2 in the suit titled as “Malayan Banking Berhad Versus State Bank of India” filed by invoking the provisions of Section XXXVII of the Code of Civil Procedure, has approached this Court seeking setting-aside of the order dated 6.7.2017 (Annexure P-15), whereby application moved under Order 1 Rule 10 CPC has been dismissed.

2. Before adverting to the rival contentions of the respective counsel for the parties to the lis, it would be apt to give brief preface of the matter.

3. As per the averments in the application, the petitioner sought to be impleaded as a party, i.e., defendant No.2. In the petition, it has been stated that the petitioner entered into an agreement with M/s SIMS Copper SDN, BDH, of Malaysia (Seller) for purchase of 50 M.T. of copper for USD 3,73,303.43 equivalent to Rs. 2,35,18,116.09. For the purpose of facilitating payment of price of goods, an agreement dated 21.11.2011 (Annexure P-1) was entered into between the petitioners and the seller.

3. The petitioner obtained a Letter of Credit dated 24.11.2011 (Annexure P-2) thr