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2025 Supreme(Cal) 845

IN THE HIGH COURT AT CALCUTTA
RAJASEKHAR MANTHA, AJAY KUMAR GUPTA
Tata Steel Limited – Appellant
Versus
Owners and Parties Interested In the Ocean Vessel Esperanza-III – Respondent


Advocates Appeared:
For the Appellants : Ratnanko Banerjee, D.K. Sarkar, J. Ghorai, D. Ghorai, S. Sen
For the Respondents: V.K. Ramabhadram, K. Thakkar, S. Prasad, N. Banerjee

JUDGMENT :

RAJASEKHAR MANTHA, J.

1. The appeal and cross-objection have been filed against judgment and decree dated 07th May, 2024 passed by a Single Bench of this Court in AS No. 3 of 1996 [The Tinplate Company of India Limited Vs. The Owners and Parties Interested In Ocean Vessel Esperanza-III (Sandhead)].

2. By the impugned judgment, the Single Bench of this Court allowed the counter-claim of the defendant/cross-objector in the suit and dismissed AS 3 of 1996. The Single Judge allowed the defendant to encash the bank guarantee furnished by the plaintiff/appellant in terms of the orders dated 28th February, 1996 and 29th February, 1996 passed at the inception of the suit. The Registrar, Original Side was directed to encash the bank guarantee and transfer the proceedings thereof to the defendant ‘Cargo Levant’. Interim interest and interest on judgment @ 6% on the sum of Rs.68 lakhs from 25th April, 1996 was also ordered by the Single Judge.

A. Facts of the Case

3. The brief facts relevant to the case are that one “Cargo Levant” entered into a time charter party of the sea-faring vessel “Esperanza-III” with its owners on 19th December, 1995. [Exhibit 6]

4. A Bill of Lading dated 28th D

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