Disposed

Ishoon (Correctly Spelled as Easun) Product of India Private Limited v. Rajasthan Rajya Vidyut Prasaran Nigam Limited

Rajasthan HC6 Feb 2020CMA/5019/2019

Case brief

AI extract

What is this about?

In this civil miscellaneous appeal regarding the encashment of bank guarantees, the High Court of Rajasthan disposed of the appeal and the pending stay application by directing the appellant to extend the bank guarantees for three months after the suit's disposal.

What did the court decide?

Direction to extend bank guarantees for three months after suit disposal; stay application disposed of.

Ishoon (Correctly Spelled as Easun)… — Contract and Commercial Disputes | Rajasthan HC (2020)

¶1

HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR

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D.B. Civil Miscellaneous Appeal No. 5019/2019

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Ishoon (Correctly Spelled As Easun) Product Of India Private Limited, And Having Its Registered Office 6Th Floor, Temple Tower, No. 672, Old No. 476 Anna Salai, Chennai-600035 Through Its Authorized Representatives Sh. N Rajan (Presently Through Authorized Signatory Mrs. D Anushuya)

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----Appellant

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Versus

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Rajasthan Rajya Vidyut Prasaran Nigam Limited, Having Its Registered Office Vidyut Bhawan, Janpath, Jyoti Nagar, Jaipur 302005 Through Chief Engineer

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Rajasthan Rajya Vidyut Prasaran Nigam Limited, (Office Of Superintending Engineer (Design Circle), Vidyut Bhawan, Janpath, Jyoti Nagar, Jaipur 302005 Through Superintending Engineer (Design Circle)

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I.C.I.C.I. Bank Limited, C-99, Shreeji Tower, Subhash Marg, Ahinsa Circle, C-Scheme, Jaipur (Rajasthan)

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----Respondents

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For Appellant(s)	: Mr. Rajendra Prasad Sr. Counsel with Mr. Arnav Singh
For Respondent(s)	: Mr. Ashok Mehta, Sr. counsel with Mr. Naven Kumar Jain Mr. Mitesh Sharma

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HON'BLE MR. JUSTICE PRAKASH GUPTA HON'BLE MR. JUSTICE PANKAJ BHANDARI

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Order

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06/02/2020

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Appellant has preferred this civil miscellaneous appeal aggrieved by the order dated 27.09.2019, whereby the Commercial Court has permitted invoking of bank guarantees.

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It is contended by the learned counsel for the appellant that initially bank guarantees were given by the appellant and stay

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(2 of 2)

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[CMA-5019/2019]

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was operating in his favour that that bank guarantees should not be encashed. However, the respondents moved an application under Section 151 of CPC before the Commercial Court with a prayer that the bank guarantees be kept alive. The Commercial Court instead of allowing the application for keeping the bank guarantees alive, has permitted to encash the bank guarantees.

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It is now contended by the learned counsel for the parties that the appellant has already extended the bank guarantees and would keep the bank guarantees alive till three months later than the disposal of the suit.

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In view of the same, the appeal is disposed of with a direction to the appellant to keep the bank guarantees alive till three months after the disposal of the suit.

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However, it is expected from the Commercial Court to decide the suit pending before it expeditiously.

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Consequent upon the disposal of the appeal, the stay application does not survive and the same also stands disposed of accordingly.

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(PANKAJ BHANDARI),J

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(PRAKASH GUPTA),J

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Mohit/DK13

Ishoon (Correctly Spelled as Easun) Product of India Private Limited v. Rajasthan Rajya Vidyut Prasaran Nigam Limited

Case brief

What is this about?

What did the court decide?

Ishoon (Correctly Spelled as Easun) Product of India Private Limited v. Rajasthan Rajya Vidyut Prasaran Nigam Limited

Case brief

What is this about?

What did the court decide?

What the court decided

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Issues for consideration

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