original Defendant No.2) from encashing certain
Standby Letters of Credit (SBLC) issued by Respondent No.3 (original
Defendant No.3).
::: Downloaded ... SBLCs show Respondent No.2 as the beneficiary.
Under the SBLC Respondent No.3 has to make out payment upon the
::: Downloaded
limited to Sovereign Metals Limited, India
as per the terms of this SBLC, which has been
confirmed by Apex Metals Ltd vide letter dated ... Metals Ltd that they have not
exported gold dore bars under this SBLC to the
applicant. Hence, as per FEMA regulations in force, we
cannot
Companies from Canara Bank by
submitting Stand-by Letters of Credit (SBLC's). It was alleged
that after availing the financial facilities, the accused ... persons enjoyed similar power in
the Company to sign the applications for SBLC's, but they are not
even charged. In any case
will not make payment under the Suit Stand by
Letters of Credit (SBLC), during the pendency of the
ICC Arbitration Proceedings initiated by Reliance
Industries ... India-Respondent No.3 will not be
entitled to make payment under SBLC and Counter-
guarantee. However, if the Arbitral Tribunal holds
against Reliance
from releasing / making payments under
Stand By Letters of Credit (the "SBLC") to Defendants No. 1 to 3.
3. Ms. Hirve submits that ... SBLC was opened by the Petitioner
with the Defendant No.4, so as to make the payment for supply of gold
dors by Defendant
stock position at month end and this data shall be
shared with SBLC/BG issuing bank.
iii. ..........
30. At this juncture, it would be necessary
Mumbai) for the reasons that Standby Letters of
Credit (for short 'SBLC') under which the Petitioner is seeking a money-
decree from
