110KV system and Ext.P1 is copy of the agreement dt.16.6.95 governing supply of electricity under 66 KV system. Reference is made to Clause 12 of Ext.P1 which provides that either party to the agreement can terminate the agreement by issuing three month's notice by registered post. Petitioner states that frequent enhancement of tariff by Board was found uneconomical by the Company, and the Company issued Ext.P2 letter giving notice of termination of Ext.P1 to the 1st respondent. It is also stated that the Company had already shut down the eletrolytic pots or cells in the production line receiving the supply under the 66 KV system. The petitioner further states that on the terms of Ext.P1 the petitioner had to offer security by way of Bank Guarantee for electricity charges equivalent to two months' charges and accordingly Bank Guarantee for an amount of Rs.2,20,33,000/- was furnished to the 1st respondent on the petitioner's behalf by the petitioner's Bank Deutsche Bank A.G. Ext.P3 is copy of that Bank Guarantee. Later consequent on an amendment to the conditions of supply of electrical energy the petitioner becomes obliged to make a cash deposit of Rs.1,10,17,000/- and furnish revised Bank Guarantee for Rs.1,10,30,000/- in substitution of Ext.P3. Ext.P4 is copy of the revised bank guarantee furnished. The petitioner points out that bank guarantee was furnished strictly in accordance with Clause 3 of Ext.P1 for supply of
