State Bank Of India & Anr vs M/S. Emmsons International Ltd. & Anr

The Supreme Court upheld the Madhya Pradesh High Court's decision to grant a monetary claim to M/s. Emmsons International Ltd. under the amended terms of the letter of credit, emphasizing that the buyer's acceptance of documents constituted a binding agreement. The Court clarified that the stipulations in the letter of credit, governed by the Uniform Customs and Practices for Documentary Credits (UCP), must be adhered to by the parties involved. The appeal was dismissed, affirming the High Court's decree in favor of the seller.