REWARI GUJRAT METAL TRADERS Vs. PUNJAB NATIONAL BANK

JUDGEMENT

(1.) Counsel for the applicant- Bank submits that there is no security to its money and in view of section 41 of the Specific Relief Act, no mandatory injunction can be issued directing the Bank to give credit against Advance Bill Account. He cites United Commercial Bank Jullundur City v. M/s. New Model Industries P. Ltd., G. T. Road, Jalandhar, 1987 92 PunLR 86.

(2.) Counsel for the petitioner controverts the said contention of the counsel for the applicant and contends that he had started manufacturing the goods only when the facility was made available to him by the bank. The bank is estopped from withdrawing the said facility He relies upon The Gujarat State Financial Corporation v. M/s. Lotus Hotels Pvt. Ltd., 1983 AIR(SC) 848

(3.) I find force in the contention raised by the counsel for the applicant Bank. The petitioner has prima facie an alternative remedy if he suffers any damages on account of the breach of the contract. It is a simple suit for breach of contract in which no order for specific performance can be passed. In view of this position the stay order dated 10th August, 1988 is vacated.