Supreme Court · 1992 INSC 355 · Decided 18 December 1992

American Express Bank LTD. v. Calcutta Steel CO. and ORS.

Court: Supreme Court of India
Citation: 1992 INSC 355 · [1992] SUPP. 3 S.C.R. 833
Case number: CIVIL APPEAL No. 5432/1992
Decided: 18 December 1992
Bench: A.M. AHMADI, M.M. PUNCHHI, K. RAMASWAMY (3-judge bench)
Outcome: Appeal(s) allowed
Case type: Civil
Acts & sections cited: NI Act Section 5, 7, 32; Specific Relief Act Section 34

Headnote

BANK LTD. v. CALCUTT A STEEL CO. AND ORS. DECEMBER 18, 1992 [A.M. AHMADI, M.M. PUNCHHI AND K. RAMASWAMY, JJ.J Negotiable Instruments Act, 1881: Sections 5, 7, 32-lmport of steel billets through canalised agency MMTC-Letter of Credit opened MMTC Ale A B end user--Goods delivered- Appropriated by Courts-Exercise of with Circumspection-Principles of justice and fairplaJ-Ends of justice-To be kept in mind. Words & Phrases : "Acceptance''-Meaning of. ·The first respondent (CSC) obtained licence to import steel billets. D As per Government of India's import policy, iron and

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