PUNJAB NATIONAL BANK Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) Aggrieved by the order of the learned Writ Court whereby it has directed the appellant to credit a sum of Rs.81,74,190.00 alongwith interest @ 12% per annum w.e.f. 15/9/2008 till the amount is paid to the State Bank of India, Baddi and further to pay costs of Rs.1.00 lac to the State Bank of India, the appellant-PNB has filed the instant appeal.

(2.) The parties shall be referred to as the 'writ petitioner' and the 'writ respondents'.

(3.) Brief facts of the case are that the writ petitioner-M/s Alliance Biotech, a partnership firm engaged in the manufacturing of pharmaceutical products entered into an agreement with respondent No. 3 - Rajat Pharmaceutical Chemicals Limited, under which respondent No. 3 had exclusive right to market the products manufactured by the petitioner.