JAI BALAJI INDUSTRIES LTD Vs. COAL INDIA LTD

JUDGEMENT

(1.) The plaint was presented on an urgent basis on 17th June, 2014. This application was moved yesterday, citing grave urgency, in the presence of learned counsel for the first and second defendants. In order to enable this Court to consider or to refuse passing of an interim order properly and upon proper notice to the defendants, I directed the application to appear in the list today, by passing a limited interim order directing status quo to be maintained by the parties with regard to the transfer of funds.

(2.) This is another suit, claiming, inter alia, an order of injunction restraining the beneficiary of bank guarantees from invoking the same. The beneficiary of the bank guarantee in this case is the second defendant.

(3.) Six bank guarantees were furnished at the instance of the plaintiff to the second defendant of a total value of Rs. 3,19,18,726/-. These bank guarantees were issued by the third to the sixth defendants.