Delhi High Court - Orders
Power Mech Projects Ltd vs Sepco Electric Power Construction ... on 16 March, 2021
Author: Vibhu Bakhru
Bench: Vibhu Bakhru
$~19
* IN THE HIGH COURT OF DELHI AT NEW DELHI
+ O.M.P.(I) (COMM.) 523/2017
POWER MECH PROJECTS LTD. ..... Petitioner
Through: Mr Dharmesh Misra, Mr Prateek
Gupta, Mr Sahil Gupta and Mr Vishal
Singh, Advocates.
versus
SEPCO ELECTRIC POWER CONSTRUCTION
CORPORATION ..... Respondent
Through: Mr P. Chidambaram, Sr. Advocate,
Mr C. S. Vaidyanathan, Sr. Advocate
with Mr Ranjit Prakash, Mr Satvik
Varma, Mr Gaurav Lavania and Mr
Tanveer Oberoi, Advocates.
CORAM:
HON'BLE MR. JUSTICE VIBHU BAKHRU
ORDER
% 16.03.2021 I.A. 3406/2021
1. Mr Chidambaram, learned senior counsel appearing for the respondent/SEPCO states that the two Bank Guarantees for a sum of ₹30 crores each (aggregating ₹60 crores) have been extended till 19.03.2021. He states that original of one of the Bank Guarantees (issued by Bank of China) is in possession of the respondent and shall be filed with the Registry of this Court within a period of two working days. He states that insofar as the second Bank Guarantee (ICBC Bank) is concerned, an intimation has been received that the same has been extended but the original Bank Guarantee is Signature Not Verified Digitally Signed By:DUSHYANT RAWAL not in possession of the respondent as yet. He states that the same would also be deposited as soon the said Bank Guarantee is received.
2. The respondent is bound down to the said statements.
3. The order passed on 05.03.2021 is extended till the next date of hearing. Insofar as the petitioner's apprehension regarding non-extension of the Bank Guarantee is concerned, this Court had clarified that in the event that the Bank Guarantees are not extended, the same would stand invoked on the strength of the order dated 05.03.2021 and the bank would remit the amount to the Registry of this Court. The said order shall continue to operate.
4. List for further proceedings on 18.05.2021.
VIBHU BAKHRU, J MARCH 16, 2021 MK Signature Not Verified Digitally Signed By:DUSHYANT RAWAL