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2021 Supreme(Bom) 1247

G.S.PATEL
S. K. S. Power Generation (chattisgarh) Ltd – Appellant
Versus
Canara Bank – Respondent


Advocates appeared:
Venkatesh Dhond, Advocate, Rohaan Cama, Advocate, Vinodini Srinivasan, Advocate, Rashna Khan, Advocate, Poorva Garg, Advocate, Mulla & Mulla, Advocate, Craigie Blunt & Caroe, Advocate, Prateek Seksaria, Advocate, Nishit Druva, Advocate, Prakash Shinde, Advocate, Niyati Merchant, Advocate, Astha Thakur, Advocate, M.D.P. & Partners, Advocate, R. Subramanian, Advocate

JUDGMENT

G S Patel, J. - A. PRELIMINARY

1. The Interim Application is not in the correct form. The full title is incomplete: it does not have the full address of the Applicant, Cethar Ltd. This is to be rectified. Leave to amend without need of re verification. Amendment to be effected in two weeks by the Applicant. Fresh service of the amended Interim Application is dispensed with.

B. OVERVIEW & BACKGROUND FACTS RELATING TO THE BANK GUARANTEES

2. There are two separate proceedings before me. Both are in a Commercial Summary Suit filed on a set of unconditional Bank Guarantees. The Interim Application is an impleadment action by the principal debtor ("Cethar"), at whose instance the Bank Guarantees in question were issued. The Summons for Judgment is by the beneficiary of the Bank Guarantees, the Plaintiff in the suit ("SKS Power"). The issuing bank ("Canara Bank") is the only Defendant to the suit. It issued the Bank Guarantees and periodically renewed them.

3. Cethar'S Interim Application for impleadment and Canara Bank's defence to the Summons for Judgment. Both plead fraud; each takes a slightly different approach.

4. Sks Power was once part of the SKS Ispat group. In November 2018,

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