2018 (12) TMI 1630 - HC - Indian Laws

Invocation of the Bid Bank Guarantee - restraining encashment of which the suit was filed - The senior counsel for the plaintiff states that though the plaintiff has not so spelt it out but the plaintiff is also seeking return of the BBG inasmuch as till it is returned, the defendant no.1 can always make a fresh invocation - Held that - When there is a cause of action therefor and the suit be not entertained - application disposed off.

Summary

Issues: Disposal of CS(COMM) No.1245/2018, Return of Bid Bank Guarantee, Further proceedings, Court fees refund

In the judgment, the court addressed the matter of CS(COMM) No.1245/2018 where the Bid Bank Guarantee (BBG) was invoked by the defendant no.2 Bank, leading to the filing of the suit by the plaintiff. The court noted that the invocation of the BBG was found to be not in accordance with its terms by the bank. The plaintiff, represented by senior counsel, expressed the intention to seek the return of the BBG to prevent any fresh invocation by the defendant no.1. The court decided to dispose of CS(COMM) No.1245/2018 with liberty for the plaintiff to file a new suit if the BBG is invoked again or if the need for its return arises. The judgment emphasized that all contentions of both parties would remain open for consideration in any future proceedings related to the matter. Additionally, the court scheduled further consideration of CS(COMM) No.1246/2018 & CS(COMM) No.1247/2018 for December 11, 2018, at 1130 hours. Furthermore, the court ordered the issuance of a certificate to the plaintiff for a refund of court fees paid in CS(COMM) No.1245/2018, deducting &8377; 25,000 from the total amount.