DHAKA DYEING AND MANUFACTURING CO. LTD. Vs. AGRANI BANK
SUPREME COURT OF BANGLADESH
Dhaka Dyeing And Manufacturing Co. Ltd.
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BADRUL HAIDER CHOWDHURY J. -
(1.) Leave was granted to consider the question whether the High Court Division was correct in holding that a pass book issued by the C.C.I.E. for opening the letter of credit is a security and whether the Banker has got lien over such security.
(2.) There is a claim and counter-claim between the petitioner and the Agrani Bank. Petitioner filed a suit claiming a sum of Tk. 75,55,020.28 paisa after adjustment. The defendant Bank also filed a money suit for realization of Tk. 94,64,543.32 paisa. The suits are pending. The plaintiff-petitioner filed an application for mandatory injunction for return of the pass book deposited with the defendant bank. The trial Court allowed the application for mandatory injunction in modified form and directed the Bank to return the pass book either to the C.C.I.E. or to the nominated bank of the appellant.
(3.) On appeal, the High Court Division set aside the order of the Commercial Court and directed the petitioner to furnish security to the extent of the claim of the bank whereupon the defendant bank is to return the import pass book either to the C.C.I.E. or to the nominated bank of the petitioner.;
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