ISLAM STEEL MILLS LTD. Vs. NIRMAN INTERNATIONAL LTD.
SUPREME COURT OF BANGLADESH
Islam Steel Mills Ltd.
Nirman International Ltd.
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(1.) This petition by the plaintiff is from judgment and order dated 5 February, 1997 passed by a Division Bench of the High Court Division in First Misc. Appeal No. 15 of 1996 allowing the appeal and setting aside the order of attachment before judgment dated 27-11-95 passed by the Subordinate Judge, Second Court, Chittagong in Money Suit No. 14 of 1995.
(2.) Material facts of the case are that the plaintiff company, a manufacturer of various iron and steel materials, instituted the aforesaid suit on 1-11-95 against the defendant-respondents for recovery of Taka 7,86,28,200.35. Defendant- Respondent No. 1, a private construction company, started business with the plaintiff from September, 1988 by making purchases of its steel and iron products on deferred payment basis and by 1994 Taka 24,77,58,181.71 became due from respondent No. 1 and respondent No. 2 (a Joint venture of the former). The said respondents paid Taka 19,88,42,860.00 leaving an outstanding of Taka 4,79,15,321.71 for which demand was made from time to time.
(3.) The plaintiffs case is that on 12-2-95, respondent No. 1 issued an account payee cheque for Taka 1,00,000.00 in part payment of the outstanding dues but the cheque was dishonored on presentation to the Bank for non-arrangement of funds. However, there was some sort of understanding with the respondent with regard to the payment of the dues but ultimately the respondent did not pay anything and hence the Suit.;
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