Himachal Pradesh High Court
H.P. Power Corporation Ltd. vs . Patel Engineering Ltd. on 3 November, 2022
Author: Vivek Singh Thakur
Bench: Vivek Singh Thakur
H.P. Power Corporation Ltd. vs. Patel Engineering Ltd.
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CARBC No. 1 of 2022 03.11.2022 Present: Mr. J.S. Bhogal, Sr. Advocate with Mr. Suneet Goel, Advocate for the petitioner.
Mr. D.S. Chadha, Mr. Atul Jhingan and Mr.Dhananjay Singh Advocates for the respondent.
CARAP No. 6 of 2022 Vide order dated 16th June, 2022, passed in CARAP No. 3 of 2022, amount deposited by petitioner was directed to be released in favour of respondent, subject to furnishing Bank Guarantee for an amount 10% higher than the amount sought to be released to the satisfaction of the Registrar General of this Court, after due verification by the Registry.
This application has been filed on behalf of respondent stating therein that respondent has not been able to procure/obtain and furnish Bank Guarantee for the entire amount deposited in the Registry till date but has been able to secure Bank Guarantee for an amount of Rs.30 crores.
It has been prayed on behalf of respondent that taking into consideration Bank Guarantee being furnished by respondent, Rs.30 crores, out of total deposit, be directed to be released in favour of respondents.
Taking into consideration the terms contained in order dated 16th June, 2022, I am not inclined to allow the prayer to release Rs.30 crores in favour of respondent, however subject to verification by ::: Downloaded on - 03/11/2022 20:32:46 :::CIS Registry of Bank Guarantee being furnished by respondent, in terms of .
said order, an amount of Rs.27 crores may be released in favour of respondent as the order is clear that respondent has to furnish Bank Guarantee of an amount 10% higher than the amount sought to be released.
Therefore, respondent is permitted to place on record original Bank Guarantee before the Registrar General of this Court immediately and thereafter, Registrar General shall take steps to verify the same and subject to verification, amount in terms of order passed by this Court, be released to respondent by remitting the same in Bank Account of respondent, details whereof have been given in prayer clause of this application. The said Bank Guarantee shall be kept alive during pendency of main petition as already ordered.
Application stands disposed of.
November 03, 2022 (Vivek Singh Thakur)
(ms) Judge
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