Supreme Court · 2006 INSC 312 · Decided 10 May 2006
Ubs Ag v. State Bank of Patiala
- Court
- Supreme Court of India
- Citation
- 2006 INSC 312 · [2006] SUPP. 2 S.C.R. 239
- Case number
- CIVIL APPEAL No. 2578/2006
- Decided
- 10 May 2006
- Bench
- B.P. SINGH, ALTAMAS KABIR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- CPC
Headnote
Code of Civil Procedure, 1908: Order XXXVII, Rule 3. Summary suit-Unconditional leave to defend--Triable issues - Letter of credit issued by defendant-bank to plaintiff-bank with a request to inform the beneficiary that an irrevocable Letter of Credit had been established for the sum indicated having been presented by the beneficiary to the plaintiff-bank, it made payment under the Letter of Credit to the beneficiary-The defendant-bank informed the plaintiff-bank, after the payment was made, that the beneficiary was perpetrating fraud with banks in India-The plaintiff-bank was
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