Shreesatya Mines Private Limited Vs Icici Bank Limited and Anr. — Calcutta HC (2025) — LawSathi Research

Shreesatya Mines Private Limited Vs Icici Bank Limited and Anr. — Calcutta HC (2025) — LawSathi Research

What the court decided

AI extract

Outcome

Appeal and connected application (CAN 1 of 2025) disposed of; the disbursement under the bank guarantee to abide by the result of the application/suit before the Trial Court; Trial Court directed to hear and dispose of the injunction application positively within four weeks from communication of the order; appellant directed to forthwith serve notice of the injunction application on defendant no.2; leave granted to the bank's advocates to file vakalatnama and affidavit of competency by 20.06.2025; copy of the Ministry of Coal letter dated June 18, 2025 to be kept with the records.

Issue for consideration

Whether the appellant/plaintiff was entitled to an order of injunction restraining the respondent bank from making any payment under the bank guarantee furnished by the appellant in favour of defendant no.2, the Trial Court having refused interim relief. +1 more

Ratio / Principle

Since the money under the bank guarantee had already been disbursed on June 16, 2025, nothing remains in this appeal.

Key takeaways

The disbursement under the bank guarantee would naturally abide by the result in the application/suit pending before the learned Trial Court.ratio¶¶15
The date of hearing of the injunction application (posted for August 11, 2025) was preponed and the learned Trial Court was directed to hear and dispose of the matter as soon as possible and positively within four weeks from the date of communication of this order.ratio¶¶16
The appellant was directed to forthwith serve notice of the injunction application on defendant no.2 so that defendant no.2 has the opportunity of being represented when the injunction application is heard.

Detailed headnote1 paragraphs

Appeal (AO (COM) 18 of 2025) against order dated June 16, 2025 of the learned Judge, Commercial Court at Rajarhat, North 24 Parganas in TS (Com) No.13 of 2025, whereby the Trial Court, while granting leave under Section 12A of the Commercial Courts Act, 2015 and under Section 80 of the Code of Civil Procedure, refused interim relief on the appellant/plaintiff's application for injunction restraining the respondent bank from making any payment under a bank guarantee furnished by the appellant in favour of defendant no.2, and directed notice to defendant no.2 in view of the apparent embargo in Section 80(2) CPC. During the hearing, the bank's advocate stated that the money under the bank guarantee had already been disbursed on June 16, 2025. Held: nothing remains in the appeal; the disbursement under the bank guarantee shall abide by the result of the application/suit pending before the Trial Court. As the Trial Court had posted the injunction application for August 11, 2025, the date was preponed and the Trial Court directed to hear and dispose of the matter positively within four weeks from communication of the order. The appellant was directed to forthwith serve notice of the injunction application on defendant no.2. Leave was granted to the bank's advocates to file vakalatnama and affidavit of competency by 20.06.2025, and a copy of the letter dated June 18, 2025 from the Ministry of Coal requesting renewal/extension of the performance guarantee was directed to be kept on record. Appeal and connected application disposed of. (Dictated by Arijit Banerjee, J.; Bench: Rai Chattopadhyay, J. and Arijit Banerjee, J.)

19.06.2025 Item No. 01. Court No.37. AB

(ID 266019)

AO (COM) 18 of 2025 With

CAN 1 of 2025

Shreesatya Mines Private Limited Vs

ICICI Bank Limited & Anr.

Mr. Sabyasachi Choudhury, Sr. Adv, Mr. Rajashri Dutta, Mr. R. Agarwal, Ms. Rishika Goyal …..For the Appellant. Mr. Avishek Guha, Mr. Ankush Majumdar, Mr. A. K. Pandit …….For the Bank.

Dictated by Arijit Banerjee, J.

This appeal is directed against an order dated June 16, 2025, passed by the learned Judge, Commercial Court at Rajarhat, North 24 Parganas in TS (Com) No.13 of 2025, on an interlocutory application made by the appellant/ plaintiff, inter alia, for an order of injunction to restrain the respondent bank from making any payment in respect of a bank guarantee furnished by the appellant in favour of the defendant no.2.

The learned Trial Court, while granting leave under Section 12A of the Commercial Courts Act, 2015 and under Section 80 of the Code of Civil Procedure, refused to grant any interim relief and directed notice to be served on the

2

defendant no.2, in view of the apparent embargo in Section 80(2) of the Code of Civil Procedure.

Being aggrieved, the plaintiff has come up by way of this appeal.

Today, learned Advocate for the respondent bank says that money under the concerned bank guarantee was already disbursed on June 16, 2025.

In that view of the matter, nothing remains in this appeal. The disbursement under the bank guarantee would naturally abide by the result in the application/suit pending before the learned Trial Court.

We see from the order impugned that the Trial Court has posted the injunction application for hearing on August 11, 2025. We are of the view that the date should be preponed. We direct the learned Trial Court to hear and dispose of the matter as soon as possible and positively within four weeks from the date of communication of this order.

Mr. Chowdhury, learned Senior Counsel

appearing for the appellant, says that the appellant has received a letter dated June 18, 2025, from the Ministry of Coal, Government of India, requesting the appellant to renew/extend

3

the concerned performance guarantee. Let a copy of the letter be kept with the records.

Leave is granted to learned Advocate for the respondent bank to file vakalatnama and affidavit of competency in the department by the end of office hours tomorrow (20.06.2025).

The appellant shall forthwith serve notice of the injunction application on the defendant no.2 so that the said defendant has the opportunity of being represented when the injunction application is taken up for hearing.

The appeal and the connected application are, accordingly, disposed of.

All parties shall act in terms of server copy of the order downloaded from the official website of this Court.

(Rai Chattopadhyay, J.) (Arijit Banerjee, J.)