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TMI Blog2020 (5) TMI 293X X X X Extracts X X X X X X X X Extracts X X X X ..... ic, the IOCL shall remain injuncted from encashing/invoking the aforesaid three bank guarantees, i.e. Bank Guarantee No. 0346415BG0000105 dated 9th December, 2015 for an amount of ₹14,73,82,051/- issued by Respondent No. 2, Bank Guarantee No. 160127IBGA00005 dated 25th February, 2016 for an amount of ₹ 29,47,64,102/- and Bank Guarantee No. 160127IBGA00014 dated 19th April, 2016 issued by Respondent No. 3 for an amount of ₹49,44,58,134/-, till the expiry of one week from the lifting of the lockdown imposed by the Central Government, which is presently in force till 3rd May, 2020. - W.P.(C) 2966/2020 & CM APPLs. 10297-99/2020 - - - Dated:- 17-4-2020 - HON'BLE MR. JUSTICE C. HARI SHANKAR Petitioner Through: Mr. R ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ced, owing to the present n-COVID-2019 pandemic crisis, which has global implications, and to which India has also, unfortunately, fallen prey. 4. Of the three bank guarantees, forming subject matter of the present proceedings, Mr. Nayar submits that two bank guarantees are to expire on 26th September, 2020, whereas the third bank guarantee is to expire on 25th September, 2020, and that, as per the terms of the bank guarantees, the IOCL could raise claims, thereagainst, till 2021. Mr. Nayar has also sought to submit that the time for completion of contract stands extended till 30th June, 2020, by the IOCL. 5. Even while ventilating these submissions, Mr. Nayar candidly conceded that he is not seeking any adjudication thereon, by this ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of such exercise. 7. Mr. Nayar s submission is that, his client, in the present case, too, intends to approach the NCLT and seeks an injunction against the IOCL from encashment/invocation of three bank guarantees, forming subject matter of this writ petition, but that, owing to the lockdown, announced by the Central Government, as a consequent upon the n- COVID-2019 crisis, which is to continue in force till 3rd May, 2020 as of now, it is not in a position to do so. Mr. Nayar has invited my attention to a notice, dated 22nd March, 2020, issued by the NCLT, which, as he submits, has been extended thereafter. According to the said notice, offices of the NCLT are to remain closed till 31st March, 2020. Mr. Nayar submits that this period ha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o be clarified that such relief is granted to the petitioner only in view of the stalemate, with respect to the petitioner s inability to move the NCLT at present, and should not be treated as an expression of opinion, even tentative, regarding the merits of the case or the entitlement, of the petitioner, to any injunction against invocation or encashment of the bank guarantees as sought. 10. The submission appears, to me, to be eminently reasonable. 11. Mr. Nayar, too, does not object thereto. 12. In this view of the matter, I do not think it is necessary to keep this writ petition pending any further before this Court. Accordingly, this writ petition is disposed of by granting limited relief, to the petitioner, to the extent that ..... X X X X Extracts X X X X X X X X Extracts X X X X
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