JUDGMENT

Rajiv Sahai Endlaw, J.

Cm No.11464/2021 (for exemption)

1. Allowed, subject to just exceptions and as per extant rules.

2. The application is disposed of.

FAO (COMM) No.78/2021 & CM No.11463/2021 (for stay)

3. The appeal impugns the order dated 2nd March, 2020 of the Commercial Court, allowing the application of the respondent No. 1/plaintiff under Order XXXIX Rules 1 & 2 of the Code of Civil Procedure, 1908 (CPC) and injuncting encashment of bank guarantee.

4. The respondent No. 1/plaintiff had a contract from respondent No. 3 Syrian Corporation for Spinning and Weaving, an entity incorporated in and according to laws of Syria, whereunder the respondent No. 1/plaintiff was required to furnish a bank guarantee. The respondent No. 1/plaintiff requested its banker namely Syndicate Bank, since amalgamated with respondent No. 2 Canara Bank, to issue the said guarantee and the Syndicate/Canara Bank in turn requested the appellant to issue the bank guarantee. The appellant accordingly issued the bank guarantee in favour of the respondent No. 4 Commercial Bank of Syria, being the banker of the respondent No. 3, with which the respondent No. 1/plaintiff had contracted.

5. The responden