NATIONAL BANK LTD. vs GHANSHYAM DAS AGARWAL .

The Supreme Court upheld the High Court's decree in favor of Ghanshyam Das Agarwal for USD 352,250 against National Bank Limited, clarifying that the decreetal amount would be satisfied from funds with American Express Bank Limited. The Court noted that the claims were based on a Letter of Credit issued by the Appellant, and due to the legal dissolution of the sole proprietorship concern, further recovery was deemed impractical. The Court emphasized that the matter had become academic, yet it addressed the factual matrix due to the granted leave.