Complainant company was carrying on business of manufacturing and marketing polyester staple fiber and same was sold under the trademark ‘Jailene’. Complainant received an order by telex on 30.12.1994 from opposite party No.4 – Shri Minakshi Mills Ltd. for supply of Jailene PSP. On 21.1.1995 opposite Party No.4 confirmed the order after accepting the terms and conditions put forward by the complainant where in it was written that the term of payment would be sight L.C. and opened on 19.4.1995, an irrevocable without recourse at sight letter of credit in favour of the complainant through Central Bank of India, Madurai Branch, opposite Party No.2 for Rs.66 lacs. Subsequently, this L.C. was amended on 7.6.1995 as per which complainant was required to submit certain documents to opposite Party No.2 i.e. bank for claiming payment. The complainant submitted documents as per the terms & conditions of the amended LC. through its Bank–Opposite Party No.3 which were forwarded by them to the Central Bank between 17.6.1995 & 10.7.1995 before the date of expiry of validity of LC which was up to 15.7.1995. When the complainant did not receive payment despite submitting of documents complainant and its banker took up the matter with Central Bank of India opposite Party No.2. Central Bank of India intimated the complainant through telex message dated 27.6.1995 about some discrepancies in the documents submitted by the complainant. Despite various correspondence between the parties and re-submission of documents as required Central Bank of India did not release the payments to the complainant and again returned the documents along with covering letter dated 9.10.1995 advising the complainant to take up the matter directly with the ordering company. Aggrieved by the actions of opposite party–Central Bank of India, complainant filed complaint before the National Commission alleging deficiency in service.