Cargill India Private Limited v. Ion Exchange India Limited

Delhi HC13 Feb 2024O.M.P. (COMM)/291/2022

Case brief

AI extract

What is this about?

Application seeking inquiry into whereabouts of a bank guarantee furnished to the Registrar General under an earlier order. The Court restrained Deutsche Bank from encashing the guarantee and issued notice to the bank to report whether the amount is deposited, returnable on 13.05.2025.

What did the court decide?

Deutsche Bank restrained from encashing bank guarantee No.796BGG2202495 till further orders; notice issued to bank returnable 13.05.2025.

Cargill India Private Limited Vs Ion Exchange India Limited — Arbitration | Delhi HC (2024)

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$~68

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IN THE HIGH COURT OF DELHI AT NEW DELHI

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O.M.P. (COMM) 291/2022 CARGILL INDIA PRIVATE LIMITED .....Petitioner Through: Ms. Natasha Maheshwari, Adv. versus ION EXCHANGE INDIA LIMITED .....Respondent Through: Mr. Aaditiya Vijay Kumar & Mr. P. Kannan, Advs.

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CORAM: HON'BLE MR. JUSTICE JASMEET SINGH O R D E R % 09.04.2025

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I.A. 9424/2025

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This is an application filed under Section 151 of the Code of Civil Procedure, 1908, seeking an inquiry into the whereabouts of Bank Guarantee No.796BGG2202495 dated 16.08.2022 of Rs.1,00,00,000/submitted by the petitioner to the Registrar General of this Court.

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The bank guarantee was furnished, pursuant to the order 18.07.2022 passed by this Court.

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In the meantime, the parties arrived at a settlement, because of which, the petition was withdrawn on 13.02.2024 and the bank guarantee was directed to be returned to the petitioner.

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However, despite repeated efforts of the petitioner, the same was not returned and hence, the present application.

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I am of the view that in order to prevent the misuse of the said bank guarantee, it is directed that Deutsche Bank, Branch at Hindustan Times House, Kasturba Marg, New Delhi, shall not encash the said bank guarantee till any further order of this Court.

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This is a digitally signed order. The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 23/04/2025 at 11:53:04

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In the meanwhile, a Court Notice shall be issued to Deutsche Bank, Branch at Hindustan Times House, Kasturba Marg, New Delhi, to indicate whether the amount of the said bank guarantee is lying deposited with them or not, returnable on 13.05.2025.

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JASMEET SINGH, J

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APRIL 9, 2025/pk

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Click here to check corrigendum, if any

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Cargill India Private Limited v. Ion Exchange India Limited

Case brief

What is this about?

What did the court decide?

Cargill India Private Limited v. Ion Exchange India Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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