KAUSHALYA INFRASTRUCTURE DEVELOPMENT CORPORATION LTD. Vs. NATIONAL HIGHWAYS AUTHORITY OF INDIA AND ANOTHER

JUDGEMENT

(1.) This is an application by the plaintiff for restraining the first defendant from invoking the bank guarantee dated 10th December, 2008 at page 414 - 415 of the petition. This bank guarantee was furnished by the second defendant to the first, at the instance of the plaintiff.

(2.) Prima facie, I have no doubt in my mind that this bank guarantee is an unconditional one. It is said to have been invoked by the first defendant by their letter dated 25th January, 2012, received by the second defendant at or around 2 p.m. on 27th January 2012.

(3.) The ground that is sought to be made out for restraining invocation of the bank guarantee, is special equity.