REGENT COMPUTRONICS PVT. LTD.

Atlantic Inter -Trade Limited Appellant

V/S

CANARA BANK Respondents

Referred Judgements :-

HOUSE OF LORDS IN LENNARD'S CARRYING CO. LTD. V. ASIATIC PETROLEUM CO LTD. [REFERRED TO]
ELIAN AND ANR. V. MATSAS AND ORS. [REFERRED TO]
R.D. HARBOTTLE (MERCANTILE) LTD. V. NATIONAL WESTMINSTER BANK LTD. [REFERRED TO]
GUNWANT KAUR VS. MUNICIPAL COMMITTEE BHATINDA [REFERRED TO]
BABUBHAI MULJIBHAI PATEL VS. NANDLAL KHODTDAS BAROT [REFERRED TO]
U P COOPERATIVE FEDERATION LIMITED VS. STNGH CONSULTANTS AND ENGINEERS PRIVATE LIMITED [REFERRED TO]
U P COOPERATIVE FEDERATION LIMITED VS. STNGH CONSULTANTS AND ENGINEERS PRIVATE LIMITED [REFERRED TO]
GENERAL ELECTRIC TECHNICAL SERVICES COMPANY INC VS. PUNJ SONS PRIVATE LIMITED [REFERRED TO]
SYNDICATE BANK VS. VIJAY KUMAR [REFERRED TO]
STATE OF GUJARAT VS. MEGHJI PETHRAJ SHAH CHARITABLE TRUST [REFERRED TO]
STATE TRADING CORPORATION OF INDIA LIMITED VS. JAINSONS CLOTHING CORPORATION [REFERRED TO]
NATIONAL THERMAL POWER CORPORATION LIMITED VS. FLOWMORE PRIVATE LIMITED [REFERRED TO]
U P STATE SUGAR CORPORATION VS. SUMAC INTERNATIONAL LIMITED [REFERRED TO]
BANK OF INDIA VS. NANGIA CONSTRUCTIONS I PVT LTD [REFERRED TO]
KARNATAKA STATE FOREST INDUSTRIES CORPORATION VS. INDIAN ROCKS [REFERRED TO]
MALLIKARJIMA CHEMICALS VS. SINGARENI COLLIERIES [REFERRED TO]
DELUX WINES VS. STATE OF ANDHRA PRADESH [REFERRED TO]

JUDGEMENT

(1.) THIS writ petition, filed under Article 226 of the Constitution of India, assails the action of the 1st Respondent -Canara Bank in not making payment of the remaining amount under the Bank Guarantee to a tune of Rs. 54,56,750/ - as illegal, arbitrary and against the terms of the Bank Guarantee No. 2657BG:130 2003 dated 8.9.2003 and the writ petition further seeks a direction to 1st respondent -Bank to honour the Bank Guarantee No. 2657BG:130 2003 towards balance amount of Rs. 54,56,750/.

(2.) THE pleaded case of the Petitioners is as under:

(3.) CONTENDING that since the relief of injunction to restrain the payment of balance amount to the petitioners was rejected and as there is no injunction against the Bank from making the balance amount, the withholding of the balance is arbitrary, discriminatory and violative of Articles 14, 19(1) & (2) and 300 -A of the Constitution of India, the present writ petition came to be filed. This Court issued rule -nisi on 30.10.2006. Counter affidavits have been filed, denying the averments made in the writ affidavit and in the direction of justifying the impugned action.

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ATLANTIC INTER-TRADE LIMITED Vs. CANARA BANK

Referred Judgements :-

JUDGEMENT

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