INDIAN MINERAL AND CHEMICALS COMPANY Vs. DEUTCHE BANK

JUDGEMENT

(1.) Leave granted.

(2.) The appellant is a partnership firm of which the other appellants are its partners. By the impugned order, the Division Bench has allowed the respondents application for revocation of leave which had been granted under Cl. 12 of the Letters Patent 1865 to the appellants to file a suit against the respondent in the Calcutta High Court. Leave was revoked on the ground that no part of the cause of action as pleaded in the plaint had arisen within the original jurisdiction of the Court. The plaint was consequently directed to be taken off the file and returned to the appellants for presentation to the Court having jurisdiction to entertain the suit.

(3.) The suit had been filed in 1995 by the appellants against the respondent alleging that the appellant had supplied goods pursuant to an agreement between the appellant No. 1 and a German company, named Kleinsorge (hereinafter referred to as the company). Payment for the goods supplied was to be made by way of letter of credit. The letter of credit was accordingly issued by the respondent at the instance of the company in favour of the appellant No. 1 for an amount of DM 41,06,080. The goods were supplied by the appellants to the company. The plaint goes on to state (wherein the appellants are referred to as "the plaintiffs" and the respondent as "the defendant").