Bombay High Court
Apar Industries Limited vs Export Import Bank Of India on 3 January, 2023
Author: R.I. Chagla
Bench: R.I. Chagla
Digitally signed
by JITENDRA
JITENDRA SHANKAR
SHANKAR NIJASURE
NIJASURE Date:
2023.01.03
17:33:28 +0530
m1-ial-224-2023.doc
jsn
IN THE HIGH COURT OF JUDICATURE AT BOMBAY
ORDINARY ORIGINAL CIVIL JURISDICTION
IN ITS COMMERCIAL DIVISION
INTERIM APPLICATION (L) NO.224 OF 2023
IN
COMS SUIT (L) NO.222 OF 2023
Apar Industries Ltd. ...Applicant/
Plaintiff
Versus
Export Import Bank of India & Anr. ...Defendants
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Mr. Mustafa Doctor, Senior Counsel, Mr. Jehangir Jejeebhoy, Mr.
Areez Gazdar and Ms. Juhi Bahirwani i/b. Veritas Legal for the
Applicant / Plaintiff.
Mr. Mahesh Dube i/b. Meraki Chambers for Defendant No.1 - EXIM
Bank.
Ms. Priti Thomas, General Manager.
Mr. Ambrish Bhandari, General Manager.
Mr. Amit Sahu, Deputy General Manager.
Ms. Mamta Deshmukh, Chief Manager.
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CORAM : R.I. CHAGLA J.
DATE : 3RD JANUARY, 2023.
ORDER :
1. The Interim Application as well as Commercial Suit has been filed. The matter had been mentioned at 10.30 a.m. today on the ground of urgency made out that Counter Guarantees were being encashed by the Defendant No.1 - Export Import Bank of India. The 1/2 m1-ial-224-2023.doc Interim Application proceeds on the basis that there has been wrongful invocation of the performance Bank Guarantees and no occasion for payment to be made under the Counter Guarantees. Considering the exigency in the matter, the matter was placed on 6th January, 2023.
2. The matter was again mentioned at 2.30 p.m. on the ground that upon the Defendant No.1 Bank being informed that the matter was mentioned and placed on board on 6th January, 2023, the Defendant No.1 Bank conveyed to the Applicant / Plaintiff that the Defendant No.1 Bank will make the payment under the Counter Guarantee today itself as per its guidelines.
3. The matter has thereafter been placed at 4.30 p.m. and considering that the Interim Application for ad-interim relief requires to be heard on 6th January, 2023, till then Defendant No.1 bank shall not make payment under the Counter Guarantees.
4. Stand over to 6th January, 2023.
[R.I. CHAGLA J.] 2/2