DIPAK KUMAR SEN, J.

( 1 ) THE plaintiff, Road Machines (India) Private Ltd. , in this application made in the above suit, is seeking to prevent invocation of a Bank Guarantee dated the 9th Oct. , 1980 which was issued in favour of the Projects and Equipment Corporation of India Ltd. , the defendant No. 1 by the United Bank of India, the defendant No. 2 whereby the defendant No. 2 guaranteed irrevocably and unconditionally that the plaintiff would perform their obligations in respect of timely delivery of goods, quality of goods delivered and other conditions as contained in a Contract dated 8th Aug. , 1980 entered into by and between the plaintiff and the defendant No. 1 and in default of the plaintiff to honour the said obligations to pay to the extent of Rs. 1,52,760/- to the defendant No. 1. The Letter of Guarantee further provided that: (a) the decision of the defendant No. 1 as to the liability of the defendant No. 2 under the said guarantee and the amount payable thereunder would be final and binding on the defendant No. 2 and that a certificate issued by the defendant No. 1 in this regard would be conclusive and binding on the defendant No. 2. (b) the said guarantee would n

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