Emaar Mgf Construction Pvt Ltd vs Delhi Development Authority & Ors on 20 December, 2010
77. I had the occasion to deal with the law on the subject in CDS
Money Exchange Bureau Pvt. Ltd. v. Thomas Cook & Others,
2007 (95) DRJ 369. In this case, the buyer had got the documentary
credit furnished in favour of the seller. The analysis of the law on the
subject contained in the said decision may usefully be reproduced: