Supreme Court Judgement [Hongkong & Shanghai Banking Corporation Ltd. Vs. Canbank Financial Services Ltd. & ANR.] dated JULY 15, 2013 -CHANDRAMAULI KR. PRASAD,J. [Civil Appeal No.5281 of 2004] Defendant No. 1, the Hongkong & Shanghai Banking Corporation Ltd., a Company incorporated under the laws of Hong Kong, aggrieved by the judgment and decree dated 30th of June, 2004 passed by the Special Court (Trial of Offences relating to Transaction in Securities), Bombay in Suit No. 11 of 2002 decreeing the plaintiff’s suit for a sum of Rs. 18,59,71,808.22/- along with interest at the rate of 15% has preferred this appeal. Plaintiff Canbank Financial Services Ltd., respondent no. 1 herein filed the suit seeking a decree directing defendant no. 1 to pay to the plaintiff a sum of Rs.33,13,42,781.62/- with further interest thereon at the rate of 24% per annum compounded quarterly from the date of the suit till realization. According to the plaintiff, it is a Company incorporated under the Companies Act and a subsidiary of Canara Bank. Plaintiff has averred that it is engaged in the business of providing financial and management consultancy services and trading in Government and public sector securities and bonds. CLick link for full Judgement: lawintellectindia/supreme-court-judgement-hongkong-shanghai-banking-corporation-ltd-vs-canbank-financial-services-ltd-anr-dated-july-15-2013/ Follow us on twitter: https://twitter/LawIntellect
Posted on: Sat, 27 Jul 2013 06:09:00 +0000
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