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State Trading Corp. Of India And Ltd vs Adm Asia - Pacific Trading Pte. Ltd. on 24 March, 2015

Bench: Dipak Misra, Prafulla C. Pant

  ITEM NO.3                             COURT NO.5                SECTION XIV

                              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).   28/2015

  (Arising out of impugned final judgment and order dated 02/07/2014
  in FAO No. 242/2014 passed by the High Court Of Delhi At New
  Delhi)

  STATE TRADING CORP. OF INDIA AND LTD                               Petitioner(s)

                                                VERSUS

  M/S TOEPFER INTERNATIONAL ASIA PTE LTD                             Respondent(s)

  (For Final Disposal)

  Date : 24/03/2015 This petition was called on for hearing today.


  CORAM : HON'BLE MR. JUSTICE DIPAK MISRA
           HON'BLE MR. JUSTICE PRAFULLA C. PANT


  For Petitioner(s)                 Mr. Paramjit Singh Patwalia, ASG
                                    Mr. Danish Zubair Khan,Adv.


  For Respondent(s)                 Mr.Dushyant Dave, Sr. Adv.
                                    Mr. Siddhartha Dave, Adv.
                                    Mr. Amitava Majumdar, Adv.
                                    Mr. Aditya Krishnamurthy, Adv.
                                    Mr. Siddharth Ranka, Adv.
                                    Ms. Ramya Dharamaraaj, Adv.
                                    Ms. Jemtiben AO, Adv.
                                    Mr. A. Raghunath, Adv.


                         UPON hearing the counsel the Court made the following
                                            O R D E R

Leave granted.

As an ad interim measure, it is directed that the Digitally signed by petitioner-State Gulshan Kumar Arora Date: 2015.03.27 15:08:10 IST Trading Corporation shall furnish a bank guarantee amounting to Rs.3,00,00,000/- (Rupees three crores only) Reason:

in the name of the Secretary General of this Court with a memorandum stipulating that the same shall be renewed from time to time till the disposal of the appeal. The said bank guarantee  2 shall be furnished within a period of two weeks hence. After the bank guarantee is furnished, the respondent-company shall furnish a bank guarantee of a scheduled bank amounting to Rs.3,00,00,000/- (Rupees three crores only) or an equivalent amount in foreign exchange before the Secretary General of this Court which shall also be renewed from time to time till the disposal of the appeal.

It is further directed that after the bank guarantee is furnished by the respondent-company, the appellant-State Trading Corporation shall send an equivalent foreign exchange in US dollars amount to Rs.3,00,00,000/- via bank transfer in the bank account of the respondent-company.

If the order is complied with, the matter be added to the final hearing list at the top of the Board in the last week of August 2015.

    (Gulshan Kumar Arora)                  (H.S. Parasher)
        Court Master                         Court Master