( 1 ) THIS petition under Article 227 of the Constitution of India has been preferred TO by Delhi Lottery (hereinafter REFERRED TO to as the petitioner in order to facilitate the reference) against the judgment and order dated March 9, 1995 whereby defendant Bank/respondent No. 3 (hereinafter REFERRED TO to as the respondent No. 3 for the sake of convenience) was restrained from allowing the encashment of the bank guarantees. (LG No. 1/94 dated January 18, 1994 and LG No. 2/94 dated February 4, 1994 ). It was further ordered that the securities furnished against the said bank guarantees be released.

( 2 ) BRIEF facts which led to the presentation of the present petition are as under: that the plaintiff respondent No. 2 (hereinafter REFERRED TO to as respondent No. 2 for the sake of brevity) filed a suit (No. 34/95) for perpetual injunction on February 8, 1995, with the allegations that the respondent No. 2 is the Sales Manager of M/s Hanumant Sales Corporation. Inderpuri, New Delhi. He is as such fully competent to sign and verify the plaint for and on behalf of the firm. The defendant No. 2 in the said suit (petitioner herein) was holding the lotteries till the mo