BANK OF INDIA Vs. NOORUDDIN S ALLIBHOY

JUDGEMENT

(1.) The plaintiff (the bank) has filed the suit against the defendant a sole proprietory carrying on business in the name and style of M/s Innova Spectrum, at 64 Roudat Tahira Street, Bombay. for recovery of the suit claim.

(2.) The plaint allegations reveal that on 15.1.1986 on the request of the defendant who is engaged in the trading activities of import and export of leather merchandise, the plaintiffs Null Bazar Branch granted certain financial facilities to the defendant which he failed to repay. Hence, the present suit was filed for recovery of their dues.

(3.) The plaintiff-bank claims that the defendant failed to repay financial facility granted against Letter of Credit (L.C.) inspite of repeated demands and reminders.