BADAR DURREZ AHMED, J.

( 1 ) THE learned counsel for the defendants 1 and 2 submits that this application can be taken up for disposal straightway and there is no necessity for filing a reply. The defendant No. 3 is the bank which had extended the bank guarantee in question.

( 2 ) THE counsel for the plaintiff pointed out that earlier, this court had, by an order dated 01. 03. 2006, disposed of IA Nos. 9251/2005 and IA No. 2458/2006 on the ground that those applications, which were applications where an injunction in respect of the same bank guarantee had been sought, were premature inasmuch as there had been no invocation of the bank guarantee by the defendants 1 and 2. He further pointed out that now an invocation letter has been issued by the defendants 1 and 2 on 01. 03. 2006 itself. According to the learned counsel for the plaintiff, this invocation letter is not in terms of the bank guarantee and, therefore, he is entitled to an injunction against the defendants from any payments being made consequent upon the invocation letter. The counsel for the defendants 1 and 2 submitted that the invocation letter of 01. 03. 2006 was in order.

( 3 ) IT would be necessary to examine the terms of the bank guarantee as well as the invocation letter to appreciate the rival submissions made by the counsel for the parties. The first and second paragraphs of the bank guarantee are relevant for this purpose and the same are reproduced hereunder:-"1. In consideration of the NDMC, New Delhi (hereinafter called "the council") having agreed to exempt M/s. No. 1 Advertising and Marketing Company (hereinafter called the "said Contractor") from the demand under the terms and conditions of an Agreement dated 29. 8. 2003 made between NDMC Pragati Bhawan 4th floor, Jai Singh Road, New Delhi-110001, and No. 1 Advertising and Marketing Co. for licencing of electric poles in NDMC area, Zone I for display of Adv. Kiosks (hereinafter called "the said Agreement") of licence fee for the due fulfillment by the said contractor (s) of the terms and conditions contained in the said agreement on production of a bank guarantee for Rs. 37,00,000/- (Rupees Thirty seven Lacs only ). We Corporation Bank, Branch Greater Kailash Part II, New delhi-110048, (hereinafter referred to as the "bank") at the request of No. 1 advertising and Marketing Co. (Contractor (s) do hereby undertake, if demanded in writing in terms thereof before the expiry of the guarantee, to pay to the council an amount not exceeding Rs. 37,00,000/- against any loss or damage caused to or suffered or would be caused to or suffered by the Council by reason of any breach by the said Contractor (s) of any of the terms or conditions contained in this Agreement. 2. We, Corporation Bank, Branch, Greater Kailash-II, New Delhi, do hereby undertake to pay the amounts due and payable under this guarantee without any demur, merely on a demand which has to be served on us before the expiry of this guarantee, the time being the essence of this contract, from the Council stating that the amount claimed is due by way of loss or damage caused to or would be caused to or suffered by the Council by reason of breach by the said Contractor of any of the terms and conditions contained in the said Agreement or by reason of the contractor (s) failure to perform the said Agreement. Any such demand made on us within the time stipulated above shall be conclusive as regards the amount due and payable by us under this guarantee. However, our liability under this guarantee shall be restricted to an amount not exceeding Rs. 37,00,000/- (Rupees Thirty Seven Lacs only ). . . . " (underlining added)

( 4 ) THE invocation letter dated 01. 03. 2006, which is the subject matter of the present application, reads as under:-"no. D/483/s. O. (Enf.) Dated: 1-3-06 the Senior Manager, corporation Bank, m-4, Greater Kailash-II, new Delhi-110048. Sub:invocation of Bank Guarantee No. PSBG-149/2003 for Rs. 37,00,000/- dated 29. 8. 2003 on account

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