AUTOKAST LTD Vs. STATE BANK OF INDIA

JUDGEMENT

(1.) The order dated 21/02/2013 of the learned Single Judge dismissing W.P.No.37042/2012 is assailed in this writ appeal.

(2.) This matter was heard and reserved for orders on 30/07/2013. It was subsequently posted for 'further hearing' on 22/08/2013, for seeking certain clarifications and was reserved for judgment.

(3.) The brief facts of the case are that the appellant, a public sector company in Kerala, engaged in the business of casting metal components used in various machinery, had entered into an agreement with respondent No.3 for supply, erection and commissioning of a vertical turning lathe machine, vide Purchase Order No.10.407, as per agreement dated 21/02/2011. As per the terms of the Purchase Order, 20% of the value of the machine had to be paid in advance to third respondent on the latter furnishing a bank guarantee to secure the same. It was agreed that third respondent would complete the supply, erection and commissioning of the machine, on or before 20/09/2011.