Tarun Chatterjee, J. - (1.) C.A.No. 2946 OF 2007 [@ S.L.P. (C) No.10844 of 2007] Leave granted.
(2.) This appeal is directed against the order dated 13th April, 2007 passed by the Special Court {Trial of Offences relating to Transactions in Securities} at Bombay in Chamber Summons No.1 of 2007 in Suit No.3 of 1998 for recovery of Rs.15,66,66,591/- with other incidental reliefs by which the application for amendment of the written statement filed at the instance of the appellant was rejected.
(3.) Initially the suit was filed in the High Court of Delhi and was later transferred to the Special Court at Bombay constituted under the Special Court (Trial of Offences relating to Transactions in Securities) Act 1992 where the suit is now pending decision. It has been alleged in the plaint by the respondent ABN Amro Bank that on 3rd March, 1992, the New Delhi Branch of the bank had ordered transfer of one lac numbers of 17% NPC Bonds of Rs.100/- from respondent No.2 at a price of Rs.97/- . It has been the further case of the ABM Amro bank in the plaint that the appellant had failed to deliver to the respondent bank the NPV bonds and instead on or about 18th March, 1992 respondent No.2 delivered to ABN Amro Bank the original letter of allotment No.0016 covering one lac 9% tax free IRFC bonds of the value of Rs.10 crores endorsed in blank along with contract note dated 9th March, 1992. Accordingly, the ABN Amro Bank has prayed for a decree for the amount mentioned hereinabove and for other incidental reliefs. In the written statement the appellant clearly denied the allegations made by the Bank. It is true long thereafter an application for amendment of the written statement was filed by the appellant in which the appellant sought to amend para 7 of the written statement by inserting a new para, namely, para 7A which is as follows: Defendant No.1 says that the plaintiffs have admittedly agreed to purchase the said NPC bonds as also the said IRFC bonds as also allegedly paid the purchase price of the said bonds for and on behalf of their principal viz. the said Punjab Housing Development Board who is a disclosed principal. Defendant No.1 says and submits that the suit has been filed to enforce the said alleged agreement viz for recovery of the purchase price of the said NPC bonds by the plaintiff in its personal capacity. Defendant No.1 says and submits that the plaintiff cannot personally enforce the said alleged agreement entered into by the plaintiff on behalf of its principal. In the circumstances defendant No.1 submits that the suit is not maintainable and is liable to be dismissed with costs." ;