Delhi High Court - Orders
Crsc Research And Design Institute ... vs Vista Information Systems Private ... on 23 March, 2026
$~56
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P. (COMM) 455/2025
CRSC RESEARCH AND DESIGN INSTITUTE GROUP CO.
LTD. & ANR. .....Petitioners
Through: Mr. Manish Dembla and Mr.
Nachiketa Goyal, Advocates.
versus
VISTA INFORMATION SYSTEMS PRIVATE LIMITED
.....Respondent
Through: Mr. Saurav Agarwal, Mr. Asav
Rajan, Mr. Akash Saxena and
Mr. Ajay Sharma, Advocates.
CORAM:
HON'BLE MR. JUSTICE HARISH VAIDYANATHAN
SHANKAR
ORDER
% 23.03.2026 I.A. 7483/2026 (Seeking release of advance bank guarantee)
1. The present Application, filed by the Respondent under Section 151 of the Code of Civil Procedure, 1908, seeks release of the Advance Bank Guarantees ["ABGS"], bearing Bank Guarantee Nos. 003GT05183480001 (amounting to USD 2,88,708/-) and 003GT01183490002 (amounting to INR 1,56,43,843/-) respectively as directed by Arbitral Tribunal by its Arbitral Award dated 04.03.2025, which was pronounced on 11.06.2025 and corrected on 30.07.2025.
2. Learned counsel appearing on behalf of the Applicant/Respondent submits that the said ABGS have already expired and are therefore required to be submitted to the issuing bank.
3. However, learned counsel for the Non-Applicants/Petitioners submits that the said ABGS have not been provided to the Applicant This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 25/03/2026 at 21:35:07 since the claim period, in respect of the said ABGS, is still surviving.
4. Learned counsel for the Non-Applicant/Petitioners seeks and is granted liberty to file a reply to the present Application within a period of one (01) week from today.
5. Rejoinder thereto, if any, be filed within a period of three (03) days thereafter.
6. List on the date already fixed, i.e., 13.04.2026.
HARISH VAIDYANATHAN SHANKAR, J.
MARCH 23, 2026/nd/dj This is a digitally signed order.
The authenticity of the order can be re-verified from Delhi High Court Order Portal by scanning the QR code shown above. The Order is downloaded from the DHC Server on 25/03/2026 at 21:35:07