Supreme Court - Daily Orders
Sks Power Generation (Chattisgarh) ... vs Indian Bank on 16 March, 2022
Bench: D.Y. Chandrachud, Surya Kant
1
ITEM NO.4 Court 4 (Video Conferencing) SECTION IX
S U P R E M E C O U R T O F I N D I A
RECORD OF PROCEEDINGS
Petition(s) for Special Leave to Appeal (C) No(s).4047/2022
(Arising out of impugned final judgment and order dated 22-11-2021
in SFJ No. 43/2021 passed by the High Court of Judicature at
Bombay)
SKS POWER GENERATION (CHATTISGARH) LIMITED Petitioner(s)
VERSUS
INDIAN BANK Respondent(s)
(FOR ADMISSION and I.R.)
Date : 16-03-2022 This petition was called on for hearing today.
CORAM :
HON'BLE DR. JUSTICE D.Y. CHANDRACHUD
HON'BLE MR. JUSTICE SURYA KANT
For Petitioner(s) Mr. Parag P Tripathi, Sr. Adv.
Ms. Poorva Garg, Adv.
Mr. Srinivasan Ramaswamy, Adv.
Mr. Saswat Pattnaik, Adv.
Mr. Hasan Murtaza, AOR
For Respondent(s)
UPON hearing the counsel the Court made the following
O R D E R
1 Mr Parag P Tripathi, senior counsel appearing on behalf of the petitioner, submits that:
(i) The bank has not complied with the order of the High Court for deposit of Rs 57.30 crores, together with interest at 9%, as directed; and Signature Not Verified Digitally signed by Sanjay Kumar Date: 2022.03.16 16:46:46 IST Reason:
(ii) The bank guarantee was unconditional and irrevocable and all efforts on the part of the bank to restrain the invocation of the guarantee have failed.2
2 At this stage, we are of the view that the ends of justice would be met by permitting the petitioner to apply to the Single Judge of the High Court in pursuance of the provisions of Order XXXVII of the Code of Civil Procedure Procedure 1908 and the High Court Rules in that regard for:
(i) Withdrawal of the amount deposited, in the event of deposit, subject to furnishing security; or
(ii) For a decree in the event that there is a failure of compliance.
3 Granting liberty to the petitioner to do so, we dispose of the Special Leave Petition with a clarification that in the event that the petitioner is aggrieved by any further order of the High Court, it would be open to it to move this Court afresh, including on the grounds which are sought to be raised in the present proceedings.
4 Pending application, if any, stands disposed of.
(SANJAY KUMAR-I) (SAROJ KUMARI GAUR)
AR-CUM-PS COURT MASTER