Supreme Court · 2004 INSC 417 · Decided 3 August 2004
Fargo Freight LTD. v. The Commodities Exchange Corporation and ORS.
- Court
- Supreme Court of India
- Citation
- 2004 INSC 417 · [2004] SUPP. 3 S.C.R. 309
- Case number
- CIVIL APPEAL No. 456/2002
- Decided
- 3 August 2004
- Bench
- S.N. VARIAVA, ARIJIT PASAYAT (2-judge bench)
- Outcome
- Disposed off
- Case type
- Civil
- Acts & sections cited
- CPC Section 21; Arbitration Act Section 46to49
Headnote
B Banking Law : Hiring of a vessel from a Foreign firm-Payment of freight and demurrage charges-Letter of Credit in exchange of Cargo-Freight paid C by the firm-Liability in respect of demurrage-Suitfiled against respondent/ bankers-High Court directed issuing banker to keep alive the Letter of charges with interest thereon-Enforcement Petition-Decreed by High Court-Noticing discrepancies in the documents, banker did not D make payment-High Court found no discrepancies in the documents and directed the banker to make payment in terms of Letter of Credit-On appeal, Held : Letter of
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