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TMI Blog2020 (12) TMI 1406X X X X Extracts X X X X X X X X Extracts X X X X ..... No. 5 shall issue two fresh bank guarantees of the amount to be communicated by learned counsels for both the parties. The bank guarantee relating to 17% of the amount shall be retained by the Bank to be produced before this Court at the time of passing of the order on the petitioner s application and the copy thereof shall be furnished to learned counsels for both the parties. The second bank gua ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Mr. Akshay Gadeok, Advocates for UOI/ respondent No. 1. Mr. Ashok Jain, Advocate for respondent No. 5/Indian Bank. ORDER 1. The hearing has been conducted through video conference. CM APPL. 31352/2020 2. Mr. Ashok Jain, learned counsel for Indian Bank, respondent No. 5, submits that he has taken instructions from the Bank that the Bank shall not levy charges to break the bank guarantee into two pa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... counsels for both the parties within two working days whereupon learned counsels for the parties shall submit their response to respondent No. 5 within 2 working days. 5. If petitioner is required to sign some documents, Learned counsel for respondent No. 5 shall communicate with the petitioner s counsel by email with a copy to learned Standing Counsel and the necessary compliance shall be done b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ntee and issuing the two bank guarantees in terms of this direction. However, the necessary expenditure including the Stamp duty shall be borne by the petitioner. 8. Learned counsel for the petitioner seeks clarification that second bank guarantee with respect to 83% is not subject matter of this petition. It is clarified that this Court is only dealing with the bank guarantee relating to 17% and ..... X X X X Extracts X X X X X X X X Extracts X X X X
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