JUDGMENT :

Sugato Majumdar, J.

1. The instant suit is filed by the Plaintiff praying for perpetual injunction restraining the Defendant No. 2 from invoking or receiving any payment in respect of the bank guarantee, subject matter of the suit; perpetual injunction restraining the Defendant No. 1 from making any payment to the Defendant No. 2 in respect of the said bank guarantee; mandatory injunction upon the Defendant No. 1 to cancel the said bank guarantee along with other prayers.

2. The original Plaintiff was M/s Skipper Steel Limited which now M/s Skipper Limited, is engaged any business of manufacture and sale of three legged tubular hybrid towers made of iron. The Defendant No. 2, Bharat Sanchar Nigam Ltd. in short BSNL, required such towers. Accordingly a tender enquiry dated 11/04/2007 for supply of the towers, was issued by the BSNL. The Plaintiff duly submitted its bid. The tender notice contained various terms and conditions. In terms of tender conditions the Plaintiff furnished a bank guarantee which was issued by the original Defendant No. 1, namely, Oriental Bank of Commerce. The later was subsequently merged with the present Defendant No. 1 Punjab National Bank Limited.