Supreme Court · 1968 INSC 317 · Decided 26 November 1968
Tarapore & CO., Madras v. M/S. V/O Tractors Export, Moscow and ANR.
- Court
- Supreme Court of India
- Citation
- 1968 INSC 317 · [1969] 2 S.C.R. 920
- Case number
- CIVIL APPEAL No. 2251/1968
- Decided
- 26 November 1968
- Bench
- S.M. SIKRI, K.S. HEGDE (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
Banking Practice-Irrevocable letter of credz't--Significance of-If Courts can interfere with commercial practice when international reper· cussions are involved. An Indian Firm (the appellant) entered into a contract with a Russian Firm (the respondent) for supply of certain machinery, Jn letter of credit with a Bank in India for the entire value of the equipment. The respondent supplied all the machinery and re­ ceived 25 % of the money payable under the Jetter of credit from the Bank. Thereafter, the appellant complained that the performance of the machinery was not
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