Bank – Documentary credit. The judge continued and made interlocutory an interim injunction restraining the second respondent bank from making a payment to the appellant under a letter of credit, as the fraud exception had been established. The Court of Appeal in the Supreme Court in Mauritius affirmed the decision and the appellant appealed. The Privy Council articulated the fraud exception test applicable to letters of credit at the interlocutory stage, but held that the fraud exception had not been satisfied. Further, the judge had erred in his approach to the balance of convenience, given the insuperable difficulty recognised by the authorities.