( 1 ) THIS appeal is filed against the order dated 22-2-2002 passed in W. P. No. 26909/2000 wherein the learned single Judge directed the 2nd appellant Bank to release the securities and margin money as mentioned in Schedule-I.

( 2 ) THE necessary facts in brief are, the 1st respondent is a leading National Bank constituted under the Banking Companies (Acquisition and Transfer of Undertakings) act, 1980 and the 2nd respondent is its branch. Petitioner No. 1 is a Private Company registered under the Companies Act and the 2nd petitioner is its Managing Director. The 2nd respondent Bank extended 200 credit facility of Rs. 2,460 lakhs and the 2nd respondent-Bank agreed to furnish bank guarantee to the extent of Rs. 708. 02 lakhs. The petitioners deposited the securities as mentioned in Schedule-1 to the writ petition and thereafter the second respondentbank had executed bank guarantee. However, all the bank guarantees were cancelled due to the completion of the work undertaken by the petitioner Company and in terms of the contract. Accordingly, an application was made to the second respondent-Bank to return the securities mentioned in Schedule-I to the writ petition