dated 16.03.2017, which was issued by the
petitioner. Similarly, the aspect of SBLC was
Page 11 of 101
C/IAAP/55/2017 ORDER ... terminal.
Mr. Joshi further contended that draft Stand By
Letter of Credit (SBLC) is of no consequences.
It is further contended by Mr. Joshi that
required to submit a Standby Letters of Credit
[hereinafter referred to as SBLC for short] in the sum of
Rs.200 Crores. For the said ... petitioner Corporation
entered into Agreement with the respondent Bank, who issued SBLC
in favour of Dresdner Bank AG FrankFurt AM Main De. The said Bank
Negotiable Instruments Act, 1881 from the respondent
No.2 mainly contending that SBLC loan / credit facility
obtained by Sterling Global Oil Resources Pvt. Ltd.,
Mauritius ... 1789/2017 ORDER DATED: 26/07/2023
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with UCO Bank and SBLC Credit facility of USD 232
Million from UCO bank, MID Corporate branch
consortium.
2. Fresh Letter of Credit (DA / DP /- Inland /
Import / Buyers Credit / SBLC) limit of Rs.100.00
crore outside consortium.
3. Fresh Packing Credit ... received under LC or
utilized in normal operations.
To convert the devolved SBLC aggregating Rs.65.05
Crore (net of margin) as Term Loan
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... 6729/2017 ORDER DATED: 22/02/2023
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"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Mauritious
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... 6731/2017 ORDER DATED: 22/02/2023
undefined
"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Mauritious
Resources
Pvt. Ltd., Mauritius group of companies of Sandesara Group for
obtaining SBLC loan/credit facility of USD 232 million from the
complainant UCO Bank ... complaint. Few assertions deserves to be quoted
hereunder :-
"3. That the SBLC loan/credit facility obtained by
STERLING GLOBAL OIL RESOURCES PVT. LTD.,
Page
recommended loan of Rs 50 cr
and vide lr no 572 recommended SBLC of
Rs 100 cr.
(ii) CO conveyed sanction of all 3 loans
recommended loan of Rs 50 cr
and vide lr no 572 recommended SBLC of
Rs 100 cr.
(ii) CO conveyed sanction of all 3 loans
