PRATHIBA M. SINGH, J.

1. The present suit for permanent injunction has been filed by Affinity Beauty Salon Pvt. Ltd. and Mr. Vishal Sharma (hereinafter Plaintiffs) against Kotak Mahindra Bank Limited-Defendant No. 1 (hereinafter Bank) and Wella India Private Limited (hereinafter Defendant). The reliefs sought in the present suit are as under:

“(a) Pass a decree of permanent injunction against the Defendant No. 1 from encashing the Bank Guarantee bearing No. 0187OBG16012697 dated 30.09.2016 for an amount Rs. 15,50,00,000/- (Rupees Fifteen Crore Fifty Lakh Only).

(b) Pass a decree of permanent injunction against the Defendant No. 1 from encashing the Bank Guarantee bearing no. 0187OBG16012694 dated 30.09.2016 for an amount Rs. 9,00,00,000/- (Rupees Nine Crore Only)

(c) Pass an order in favour of the Plaintiffs directing the Defendants to pay costs as incurred by the Plaintiffs.”

2. The case of the Plaintiff is that it runs a chain of salons in India and renders hair and beauty services. Defendant (including its predecessor) and the Plaintiffs entered into an arrangement for promoting sale and distribution of the products of the Defendant in the Plaintiffs’ salons. The following