Dipak Kumar Sen, J. - (1.) The dispute in this case arises out of shipment of several consignments of men's under-garments by Anand & Co., the defendant No, 1, to Konsu-mex, the plaintiff, a company.
(2.) The plaintiff's case inter alia is that 87,000 pieces of such garments were shipped between August and September 1975 by S. S. State of Meghalaya and S. S. Vishva Mangal from Calcutta to the port of Rijeka under two Bills of Lading issued by the Shipping Corporation of India Limited, the defendant No. 3.
(3.) The plaintiff's case is that it opened an irrevocable Letter of Credit in favour of the defendant No. 1 for the value of the said shipments and between July and October 1975 the defendant No. 1 negotiated the said Letter of Credit and obtained sum of Rs. 17,05,500.;