SARVODAYA SUITINGS LTD Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) This order will decide SB Civil Misc. Stay Petition No. 17190/2010 filed in SB Civil First Appeal No.369/2010.

(2.) The brief facts of the case are that the present appellant M/s. Sarvodaya Suitings Ltd. A Public Ltd. Company filed a suit in the court of learned District and Sessions Judge, Bhilwara against the present respondent State Bank of India , Bhilwara, seeking the following reliefs:-

(3.) The defendant bank be ordered to be bound in such a manner that it shall not treat the plaintiff company as responsible for and bound by the said derivative contracts and that the defendant bank shall not proceed against the plaintiff company and shall not take any action against the guarantors of the company and that the defendant be obliged to maintain unrestricted use and continuity of the existing credit facilities sanctioned in favour of the company. Defendant bank be restrained from making any debit entries related to the impugned derivative contracts in the regular sanctioned cash credit limit/ account of the plaintiff company and remove the entries made in the past to set right the plaintiff company/s cash credit account.