( 1 ) BY this order I propose to dispose of I. A. No. 4626 of 1986 filed under Order 39 rules I and 2 and Section 151 Civil Procedure Code by the plaintiff for restraining the defendant No. 4-bank from making any payment under the bank guarantee No. 59/85 in pursuance of the invocation dated 31st July, 1986 by defendant No. 1. The application is opposed on behalf of defendant No. 1. I have heard the learned counsel for the parties and after giving my considered thought to the matter before me I have come to the following findings :

( 2 ) THE facts giving rise to this order are that the plaintiff M/s. Synthetic Foams Ltd. has filed a suit No. 1685 of 1986 for declaration and permanent injunction on the allegations that the plaintiff, a company registered under the Companies Act, 1956, are manufacturers of Thermal Insulation materials under the brand name of "multipurl"; that defendant No. 2. a Government of India undertaking, in the process of setting up a new project at Panchkula had appointed defendant No. 3, another Government of India undertaking, as consultant for that project and that defendant No. 4 is a banking institution and are bankers of the plaintiff compan