A. K. SIKRI, J.

This Letters Patent Appeal is preferred by the appellant assailing the order dated 3-2-2012 passed by the learned single Judge in Review Application No. 732 of 2011 in W. P. (C) No. 7261/2011, modifying the order dated 11-11-2011 in W. P. (C) 7261/2011.

2. The brief facts which led to the filing of this appeal are as follows :

The appellant entered into an agreement with Gujarat Mineral Development Corporation for brevity) on 20-2-2011 for the assignment of design and construction of 2 Nos. 130 meters high single flue chimney for Units 1 and 2 of Akrimota Thermal Power Station at village Chher, Taluka-Lakhpat, District - Kuchh, Gujarat at the final quoted price of Rs. 2,92,92,000/- (Two Crores Ninety Two Lacs and Ninety Two Thousand only). The appellant approached the respondent bank for a bank guarantee of Rs. 14,64,600/- and the respondent bank issued two performance bank guarantees in favour of GMDC. It is the case of the appellant that they time and again requested the respondent bank for renewal of bank guarantees, but the request was not acceded to by the bank as a result of which, the respondent bank made the payment to GMDC on invocation of bank guaran