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DELHI HIGH COURT
V.KAMESWAR RAO
Madhucn Projects Ltd. – Appellant
Versus
National Highways Authority of India – Respondent
| Table of Content |
|---|
| 1. scope and nature of the petition filed (Para 1) |
| 2. types and relevance of bank guarantees (Para 2 , 3) |
| 3. termination of contract and implications for guarantees (Para 4 , 5) |
| 4. respondent's defense against petitioner's contentions (Para 6 , 7 , 8 , 9) |
| 5. rejoinder to respondent's arguments (Para 10 , 11) |
| 6. legal standard for invocation of guarantees (Para 12 , 13 , 14) |
| 7. allegation of fraud and its substantiation (Para 15 , 16) |
| 8. court's dismissal of the petition and rationale (Para 17 , 18 , 19) |
JUDGMENT
V. Kameswar Rao, J. (Oral)--The present petition has been filed by the petitioner with the following prayers:
"In view of the aforegoing facts and circumstances, it is most respectfully prayed that this Hon'ble Court may graciously be pleased to:
a. Restrain the respondent No.1 during the pendency and until conclusion of the Arbitral proceedings, by way of a temporary order and injunction, from encashing/invoking or taking any precipitative steps or receiving any monies under the Performance Bank Guarantee of Rs.29,77,12,501/-, numbered as 16340100003675 issued on 16.6.2015 (valid till 30.11.2021) and the Retention Money Bank Guarantee of Rs.4,36,62,265/- numbered a
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