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M/S SARVODAYA SUITINGS LTD. V. STATE

BANK OF INDIA

SB CIVIL MISC. STAY PETITION NO.17190/2010

in

S.B. Civil First Appeal No.369/2010

Date of Order:

07^th March, 2011

PRESENT

HON'BLE MR. JUSTICE KAILASH CHANDRA JOSHI

Mr.R.K.Thanvi ] for the appellant/s.

Mr.Vinay Kothari ]

Mr.M.C.Bhoot, Sr.Advocate, ] for the respondent.

Mr.Surender Singh

]

BY THE COURT:

This order will decide SB Civil Misc.Stay Petition

No. 17190/2010 filed in SB Civil First Appeal

No.369/2010.

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

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following relieves:-

“ 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 declar