REDINGTON INDIA LIMITED Vs. MODI OLIVETTI LIMITED

JUDGEMENT

(1.) M/s Redington (India) Ltd. has filed the present suit for recover/ of Rs.28,04,626.50. The suit has been filed against M/s Modi Olivetti Ltd.

(2.) It has been pleaded that the plaintiff was earlier known as Reding ton (India) Pvt. Ltd and after 23/04/1998 was re-named ass Reding ton (India) Ltd. The plaintiff carries on the business of selling/marketing of computers and computer peripherals and allied products of various reputed companies. The defendant has been purchasing various goods/items from the plaintiff till March 1998. The defendant purchased goods being computer printers of Epson make and DFX 8000 model, against orders dated 7.5.1996, 21.5.1996 and 8.6.1996. As per the payment terms, both the invoices were by means of negotiations of inland letters of credit. The defendant, sent copies of letter of credit in favour of the plaintiff.

(3.) As desired by the defendant the goods were delivered at the defendant's branch at Secunderabad. The plaintiff was supposed to negotiate the aforesaid letter of credit within the stipulated time mentioned therein but due to oversight, and Inadvertence the letters of credit could not be encashed. As a consequence of which the plaintiff remained an unpaid seller. Despite request the payment is stated to have not been made and hence the present suit.