A.K. Gohil, J.

1. The appellant/defendant Bank has preferred this first appeal under section 96 of the Code of Civil Procedure being aggrieved by the judgment and decree dated 3-2-2000 passed by the Special Additional District Judge, Indore in Civil Original Suit No. 17-B/1999 whereby decreed the suit of the respondent/plaintiff for a sum of Rs. 23,54,707.58 ps. along with interest @ 11% per annum from the date of the filing of the suit till its recovery with costs.

2. The brief facts of the case are that on 8-9-1997 respondent/plaintiff filed a suit for recovery of Rs. 23,54,707.58 ps. on the pleadings that at the material time the respondent/plaintiff was the Proprietor of M/s Oriental Traders, a concern which was dealing as manufacturers representatives, commission agent, Importer and I/A holder. The said firm has now stopped its business but is still in existence. The respondent/plaintiff obtained Letters of Authority from the Joint Chief Controller of Imports and Exports, Bombay for importing raw materials on account of the Licensees to whom the Import licenses had been granted. After receiving letter of Authorities, respondent/plaintiff placed orders with the Foreign su