STANDARD CHARTERED BANK Vs. INDIAN FINTRADE LTD

JUDGEMENT

(1.) The present suit is filed for recovery of the diverse amounts on the basis of three bills of exchange coupled with the Deed of Assignment dated 9-3-2006 purported to have been executed in favour of the plaintiffs. Summons for Judgment is taken out. Parties have completed the pleadings.

(2.) M/s Ransat plc executed three bills of exchange dated 6-3-2003, 17-3-2003 and 9-3-2003 for the respective amounts payable at 90 days and those bills of exchange were said to have been accepted by India Fintrade Ltd. According to plaintiffs by Deed of Assignment dated 9-3-2006 the rights in respect of the three bills of exchange came to be assigned to the plaintiffs, pursuant to that the present suit is filed on 19-5-2006 after completing the formalities like issuance of notice etc.

(3.) I have extensively heard learned advocates on both the sides and propose to give reasons for the points which have been raised before the Court.