GOKULDAS EXPORTS vs JAIN EXPORTS P.LTD

The Supreme Court upheld the High Court's decree for recovery of Rs. 5,47,740 with interest at 18% per annum, confirming the appellant's obligation under the agreement dated 15th February 1982. The Court emphasized that the appellant, having guaranteed a minimum margin of 4% of the import licence value, was liable to fulfill the financial terms agreed upon. The judgment reinforced the binding nature of contractual agreements in commercial transactions, particularly in the context of import-export business.