MARG LIMITED Vs. GARWARE-WALL ROPES LIMITED

JUDGEMENT

(1.) THE Application is filed by the plaintiff seeking to grant an order of interim injunction restraining the first respondent and their agents from claiming or demanding any amount under the letter of credit No.MDSC/INLC/ML/1/08-09 dated 14.7.2008 or under its amended one dated 4.8.2008 issued by the second respondent without delivery of materials at the site and consequently restraining the second respondent from effecting any payment to the first respondent under the letter of credit.

(2.) THE Applicant/plaintiff would contend as follows:-

(3.) THE only point that survives for consideration in this application is whether the negotiation of the letter of credit by the first respondent even before the delivery of the materials as per the terms of the letter of credit is proper.