9911796707
TMI Blog2002 (8) TMI 572X X X X Extracts X X X X X X X X Extracts X X X X ..... for opening letters of credit in favour of Palmex Enterprises of Singapore for a sum of US dollars 205992.51 to cover the payment of consignment of PVC, C & F Bombay; that the respondent issued letter of credit in favour of the said seller for the said sum; that the letter of credit was transmitted to the seller through a negotiating bank authorising him under this letter of credit and to claim reimbursement by debiting the account of respondent-bank with their New York office; that the seller is purported to have shipped goods on 30-8-1979 and negotiated documents as required under the letter of credit on 31-8-1979 with the negotiating bank; that the negotiating bank made the payment and on receipt of the original documents the issuing ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... porters disputed documents as discrepant and not in terms thereof. On refusal by the insurance companies to pay t he claims of the importers, they filed suits for recovery of insurance claim. It is contended that in the suits filed by importers against insurance companies and in the suits filed by the banks certain commonissues arise. Therefore, it is prayed matter that this should be re-trans- ferred to the High Court. The petitioners' request is strongly resisted by the respondent. 3. It is clear that article 139A of the Constitution is not attracted to cases of this nature as this is not a case where transfer of a case from one High Court to another High Court is sought for. It is also doubtful whether section 25 of the Code of Civil Pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the High Court and the cause for retention on its file is not available on record. Apart from this fact, we may notice that when exclusive jurisdiction has been given to the Tribunal under the Act in respect of matters that could be dealt with under section 17 of the Act, the jurisdiction in other Courts to entertain and decide such matters for recovery of debts due to banks and financial institutions stood ousted as provided under section 18 of the Act. Further section 31 of the Act provides for transfer of cases from civil courts to the Tribunal. Our view in this regard is consistent with what has been enunciated in Union of India v. Delhi High Court Bar Association [2002] 2 SCR 450, wherein this Court, after examining the entire scheme ..... X X X X Extracts X X X X X X X X Extracts X X X X
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