- (1.) This Rule raises an important point of procedure touching inter alia the question of the appropriate form of action, or, rather, the form of description of the "Corporation" (the Industrial Finance Corporation of India) suing or being sued under Section 28(4) of the Industrial Finance Corporation Act, 1948 (Act XV of 1948). It also involves in a certain measure consideration of the scope and effect of the entire Section 28 of the Act. Sub-section (4) does not appear to be quite happily worded and its involved and some what inapt and inartistic phraseology has given rise to the present complications. The intention, however, may be reasonably gathered from a reading of the entire Act and, particularly, the entire Section 28, and the language of Sub-section (4) may, on a fair construction be made to work reasonably in accord with that intention in the matter of its practical application.
(2.) It is necessary to state a few facts for appreciation of the situation which has arisen in the present case.
(3.) The Plaintiff Opposite Party No. 1 supplied certain articles, to wit, 502 maunds 4 seers of straw, valued at Rs. 1,442-15-6 pies, to the Defendant Opposite Party No. 2, Messrs. Sodepur Glass Works Ltd., on different dates between December 15, 1950 and January 1, 1951. Part payment of the price namely, to the extent of Rs. 642-15-6p. was made, but the balance having remained outstanding, the present suit (S.C.C. Suit No. 1418 of 1954) was filed for its recovery in the Court of Small Causes, Sealdah. The suit was filed on May 21, 1954, and the total claim including interest) was laid at Rs. 950.;