Judgment

YOGESHWAR DAYAL, J. - Special leave granted. Heard.

2. This is an appeal by M/s. Svenska Handeslbanken (defendant No.4) against the judgment and order dated 11th October, 1991 of the High Court of Orissa in Misc. Appeal No. 370 of 1991 whereby the Single Judge of the High Court accepted the appeal filed on behalf of the plaintiff while injuncting defendants Nos. 4 to 12 from encashing the bank guarantee furnished by Industrial Development Bank of India (defendant No. 12) in favour of defendants Nos. 4 to 11 for a period of 2 years or till the disposal of the suit whichever is earlier and set aside an order passed by the Subordinate Judge, Cuttack dated 14th August, 1991 vacating an order of ad interim injunction dated 25th April, 1991 and dismissing the application for ad interim injunction (Misc. Case No. 143 of 1991) against defendants 4 to 12.

3. We find it convenient to refer to the parties as they were described in the suit.

4. The suit out of which the present appeal arises was filed by the plaintiff (hereinafter referred to as the borrower) before the Subordinate Judge, Cuttack, inter alia for a declaration that the guarantees executed by Industrial Development Bank of