Supreme Court of India
M/s. Millenium Wires (p) Ltd. v. The State Trading Corporation of India Ltd. and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that these appeals are to be dismissed and accordingly appeals are dismissed.
Judgment, page 12
From the headnote
Code of Civil Procedure, 1908- 0. VII r. 11 - Rejection c of plaint - Injunction against banks to honour their guarantees - Suit seeking injunction against the Company from claiming any benefit .under the Letters of Credit and against the Confirming Foreign Bank to prevent any action or release of funds under the Letters of Credit - Meanwhile application u/O. VII r. 11 CPC by the Confirming Bank - High Court allowed the application but dismissed the plaint as no cause of action was shown against the Confirming Bank - Appeal thereagainst also dismissed - On appeal, held: No cause of action,
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