Drat Mumbai Court June 2006 Judgments

C.H. Java and Company Vs. State Bank of India

Court: DRAT Mumbai

Reported in: I(2007)BC47

1. This appeal has been filed against the judgment and order dated 29th April, 2003 passed by the D.R.T.-III, Mumbai allowing the respondent Bank's claim against the appellants on a bill of exchange dated 14lh September, 1992. Few facts which give rise to the appeal are as follows: Trade Aid and Paper Allied Products (India) Private Limited (hereinafter referred to as 'drawer') had agreed to supply goods viz. white printing papers to the appellants. The said party had also obtained a bill discounting facility from the respondent-Bank. The bill of exchange was drawn by the drawer, who were supplier of the goods to the appellants, in favour of the respondent-Bank. The bill for Rs. 9,99,999/- was payable on or before 13th December, 1992. The said bill was accepted by the appellants for the purchase of the goods. On due date, the said bill of exchange was dishonoured by the appellants by non-payment and, therefore, the respondent-Bank filed a suit against the appellants for recovery of th...