DINESH BHAKTA SHRESTHA Vs. MMTC LTD

JUDGEMENT

(1.) THIS is a suit for recovery of Rs. 58,60,288/- together with past, pendente lite, future interest at 18 % per annum, and damages and costs.

(2.) THE plaintiff, a Nepali national, is the sole proprietor of Mini Mini Enterprises (MME) a concern registered with the Department of Commerce of the Government of Nepal and having a registered office in Kathmandu in Nepal. MME claims to specialise in fertilizer trade and related services.

(3.) EVEN prior to MMTC entering into an agreement with AIC, MME was in contact with MMTC and was coordinating the visit by MMTC officials to Kathmandu for concluding the contract with AIC. On 19th June 1997, the MMTC wrote to MME informing it that a two-member MMTC delegation would be visiting Kathmandu between 25th and 26th 1997 for the finalization of the contract.