SYR INFRASTRUCTURE Vs. CHENNAI PORT TRUST AND OTHERS

JUDGEMENT

(1.) The appellant has filed a writ petition in WP.No.13934 of 2017 against the order dated 16.05.2017 passed by the second respondent, whereby, the evacuation/delivery of top layer Iron ore fines carried out by the appellant was suspended from 30.03.2017 onwards due to administrative reason, until further intimation from the Port Trust. By an order dated 06.02.2018, the learned Single Judge has dismissed the said writ petition, on the ground that a criminal case has been registered by the CBI against the appellant as well as the Port Trust Officials, alleging that all of them have conspired to get the contract awarded in favour of the appellant for the sale of iron ore based on a very low reserve price, more particularly, by permitting the unsuccessful bidder viz., H3 bidder, M/s.Eastern Bulk Trading & Shipping Pvt. Ltd to pay the money on behalf of the appellant, due to which, the Port Trust has to face loss, while the appellant was made to get a wrongful gain. It was further observed therein that the investigation is still pending and the entire records are seized by the said Investigating Agency. Aggrieved over the same, the appellant has come up with the present writ appeal.

(2.) When this matter came up before this Court earlier, the learned counsel for the respondents 1 and 2 has submitted that the Port Trust has suffered a loss of about Rs. 7 crores. Hence, we directed the learned senior counsel for the appellant to furnish a bank guarantee for the said sum to the credit of Chennai Port Trust.

(3.) Today, the learned senior counsel appearing for the appellant has submitted that leniency must be shown with regard to the amount of bank guarantee to be furnished. However, the learned counsel for the CBI has submitted that they leave it to the discretion of the Court to take a decision in the matter. The learned counsel for the first and second respondents/Port Trust has filed a reply to the memo filed by the appellant for furnishing bank guarantee, stating that the Port Trust has already handed over the case to CBI for investigation and further investigation is under progress. It is stated further that if the appellant is allowed to remove the iron ore left over, it will affect the investigation.