JINDAL POWER LIMITED Vs. ICRA LIMITED

JUDGEMENT

(1.) The hearing has been conducted through Video Conferencing.

(2.) Plaintiff Jindal Power Limited (in short 'JPL') has filed the present suit against ICRA Limited, defendant herein, a credit rating agency inter alia praying for a decree of declaration, declaring the Credit Rating Rationales dated 24th April, 2020 and 30th April, 2020 passed by the defendant or any other similar credit rating rationale downgrading the plaintiff's credit rating from BBB+ (stable outlook) to BBB (negative outlook) as null, void, unenforceable and ineffective and also seeks decree of mandatory injunction directing the defendant to withdraw the said credit rating rationales from the physical as well as electronic records of the defendant including on the world wide web. By the application under Order XXXIX Rule 1 and 2 CPC the plaintiff seeks an interim injunction in terms of prayers made in the suit.

(3.) The present suit and the application came up before this Court on 13th May, 2020 when summons in the suit were issued returnable before the learned Joint Register for 15th July, 2020 and in the application notice was issued returnable for 19th May, 2020.