GALAXY POWER CABLES LIMITED Vs. CANARA BANK

JUDGEMENT

(1.) By these Orders, the following applications shall be disposed off - I.A. 6558/94 filed by the Plaintiff under Order XXXIX Rules 1 & 2 of the Code of Civil Procedure (hereinafter referred to as the Civil Procedure Code.') for an interim injunction restraining the encashment of Bank Guarantee No. 86/90 .issued by the Canara Bank-Defendant No.1 in favour of Madhya Pradesh State Electricity Board-Defendant No.2; and I.A. No. 7886/97, being the application under Order XXXIX Rule 4 of the Civil Procedure Code. filed by Defendant No.2 for "(a) modification of the order dated 6.7.1994 to the effect that defendant No.2 should properly invoke the bank guarantee and no further invocation was required and (b) that a direction be given to Defendant No.l to honour the bank guarantee, encash the same and remit the sum of Rs.14,12,850.00 to the defendant No.2; and I.A. 8488/99 under Section 151 of the Civil Procedure Code. filed by Defendant No.l for the passing of "clear cut directions to Defendant No.l in dealing with the guarantee." These applications are intrinsically interwoven with each other and should be disposed off simultaneously.

(2.) On the first date of hearing, i.e. 5.7.1994, the following Orders were passed;

(3.) Two documents had been filed by the Plaintiff on 5.7.1994 and these are reproduced in order to show that they .do not shed any light whatsoever on the question of the renewal of the Bank Guarantee: