SKS POWER GENERATION Vs. CANARA BANK

JUDGEMENT

(1.) A. PRELIMINARY

(2.) There are two separate proceedings before me. Both are in a Commercial Summary Suit filed on a set of unconditional Bank Guarantees. The Interim Application is an impleadment action by the principal debtor ( "Cethar "), at whose instance the Bank Guarantees in question were issued. The Summons for Judgment is by the beneficiary of the Bank Guarantees, the Plaintiff in the suit ( "SKS Power "). The issuing bank ( "Canara Bank ") is the only Defendant to the suit. It issued the Bank Guarantees and periodically renewed them.

(3.) Cethar 's Interim Application for impleadment and Canara Bank 's defence to the Summons for Judgment. Both plead fraud; each takes a slightly different approach.