DBS BANK LTD Vs. HUSSAIN SHETH ISPAT

JUDGEMENT

(1.) Heard learned senior advocate Mr. R. S. Sanjanwala with learned advocate Mr. Yohaann Limathwalla and learned advocate Mr. Siddharth Sinha for M/s. J Sagar Associates on behalf of the appellant, learned senior advocate Mr. Unmesh Shukla with learned advocate Ms. Amrita Thakore on behalf of respondent Nos. 1 to 3 on caveat and learned advocate Mr. C. Z. Sankhla on behalf of the respondent No. 4. Although served, none has appeared on behalf of respondent No. 5.

(2.) The present Appeal from Order was filed by the appellant bank - original defendant No. 3 in Commercial Suit No. 10 of 2021, seeking to challenge order dtd. 12/11/2021 passed by the commercial Court - learned in-charge Principal Senior Civil Judge, Bhavnagar, whereby the Commercial Court granted injunction against the encashment of Letter of Credit, accepting the prayer of the original plaintiff not to refer the dispute to the mediation. The appellant DBS Bank - original defendant No. 3 was directed not to make payment of the amount of Letter of Credit.

(3.) Noticing the facts of the case in nutshell, the appellant is a Multi-National Bank, respondent No. 1 - origianl plaintiff is a partnership firm registered under the Partnership Act , 1932. Respondent No. 4 is a Nationalized Bank, whereas respondent No. 5 is a iron scrap supplier based in Singapore, a trader facilitating the sale of a ship bearing name V. SENIHA-S.