JUDGMENT :

Rastogi, J.

1. Leave granted.

2. The instant appeal is being preferred against the judgment and order dated 8th May, 2019 passed by the Division Bench of the High Court of Calcutta setting aside the judgment dated 16th October, 2015 of the Single Bench and accepting claim of the 1st respondent-plaintiff holding that the bank guarantees were properly invoked in law and accordingly the decree came to be passed for Rs. 1,10,33,207.0/-as claimed in paragraph 18 of the plaint with interest at the rate of 8 per cent per annum from the date of institution of the suit until payment.

3. Although both the Judges of the Division Bench has delivered their separate judgment but have expressed a concurring view on the subject.

4. The dispute primarily arose with regard to two bank guarantees amounting to Rs. 71,35,100/-and Rs. 20,32,500/-in terms of the letters of intent, HEC-CS-1502-81 dated 19th May, 1981 and HEC-CS-1502-81 dated 19th May, 1981 furnished on behalf of the 2nd defendant by the appellant Bank(1st defendant) in favour of the 1st respondent-plaintiff “as advance against supply of plant and equipment” by the 1st respondent-plaintiff to the 2nd respondent (defendant no. 2). The