STANDARD CHARTERED BANK Vs. CANARA BANK

JUDGEMENT

(1.) THE plaintiffs are a Banking Company incorporated under the Laws of England and Wales and having their office at 1-Aldermanbury Square, London, EC 2v 7sb. The plaintiffs carry on their banking business in India and have one of its branches at 23-25, Mahatma Gandhi Road, Bombay -400 023. The defendants are Trustees of Canbank Mutual Fund. The 1st defendant is a Nationalised Banking Company constituted under the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970. I am informed that the 1st defendant is the principal Trustee. For the sake of convenience, Canbank Mutual Fund and its Trustees will hereafter be called the defendants.

(2.) THE plaintiffs aver that :

(3.) THE plaintiffs aver that in respect of each of these three transactions the defendants had submitted their cost memo to the plaintiffs. The plaintiffs aver that the defendants had also submitted S. G. L. Transfer Forms for each of these transactions. The plaintiffs aver that for all these transactions they had made full payment of the purchase price of Rs. 60,64,71,275. 12p. The plaintiffs aver that they had issued the following cheques which were encashed by the defendants: