Drat Mumbai Court July 2001 Judgments

Western Ministil Limited Vs. the Bank of Rajasthan Ltd. and ors.

Court: DRAT Mumbai

1. The appeals are filed by the same party but arise out of two different applications filed in two Original Applications of the Bank of Rajasthan, which are disposed of by common judgment by the Presiding Officer, Debts Recovery Tribunal-III, Mumbai, on 16.07.2001. Orders are passed on applications Exhibit 58 in O.A. No. 3202 of 2000 and Exhibit 92 in O.A. No. 1808 of 2000. Both these applications were made by the defendant No. 3 in the original applications namely Western Ministil Limited, a company.2. In order to understand controversy brief facts are required to be stated. The respondent No. 3 M/s. Virgo Steel, partnership firm registered under the Indian Partnership Act was from time-to-time purchasing various semi-finished steel products such as RCS billets of various descriptions, size and other products from the appellants. In respect of the said transactions, the payments were made occasionally by the respondent No. 3, M/s. Virgo Steel under various letters of credit establis...