INDEXIM CONSULTANTS PRIVATE LIMITED Vs. VIDYA INTERNATIONAL

JUDGEMENT

(1.) M/s. Indexim Consultant Pvt. Ltd. herein referred to as the plaintiff filed this suit for recovery of Rs. 1,44.093.10 under the provisions of order 37 Civil Procedure Code against Vidya Internatinal, hereinafter referred to as defendant No. 1 and its proprietor Smt. Malathi Rajagopalan, defendant No. 2. Shri A. Rajagopalan husband of defendant No. 2. was also impleaded as defendant No. 3 but later on he was given up and the suit was proceeded only against defendants 1 and 2. As per the facts, which are apparent from the pleadings, defendant No. 1 deals in export of brass-wares and in terms of government policy, an exporter of brass ware is entitled to certain cash incentives and replenishment licence after the exports. The exporter is entitled, in accordance with the said policy, to dispose of or transfer the replenishment licence to any one with or without profit and there is no legal impediment to the same.

(2.) The parties have been dealing with each other since 1983 and entering into agreement for the sale and purchase of replenishment licences of different value after settling the premium payable by the plaintiff.

(3.) By an agreement dated 16.7.83 defendants No. 1 and 2 offered to sell a replenishment licence of the value of Rs. 3,12,000.00 to which the defendants said that they were entitled to on account of their exports from January to March, 1983 and the premium was settled at 7.5%. The total sum payable by the plaintiff to the defendants after receipt of the replenishment licence was Rs. 23,472.00 out of which Rs. 15,000.00 was paid to the defendants. It was stipulated in the agreement that the balance amount of Rs. 8172.00 would be paid within fifteen days of their producing evidence of having received the cash assistance and the FOB value of the exports having been admitted by the Joint Chief Controller of Import & Export, CLA It was also agreed that after receipt of the balance amount of Rs. 8172.00 the defendants shall give a transfer letter and the debit notice to the plaintiff within three days of the receipt thereof by the defendants from the office of the Joint Chief Controller of Import & Export CLA New Delhi.