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DELHI HIGH COURT
SANJEEV SACHDEVA
Classic Oilfield Chemicals FZCO – Appellant
Versus
Oil and Natural Gas Corporation – Respondent
| Table of Content |
|---|
| 1. nature of the order challenged in appeal. (Para 1 , 4) |
| 2. arguments concerning replacement of bank guarantee. (Para 2 , 3 , 6) |
| 3. court's reasoning on the nature of the suit. (Para 7 , 8 , 11) |
| 4. directions for depositing the amount in court. (Para 9 , 10) |
| 5. conclusion and order of the appeal. (Para 12 , 13) |
JUDGMENT
Sanjeev Sachdeva, J. (Oral)
CM APPL.7710/2021 & CM APPL.7711/2021 (exemption)
Exemptions are allowed subject to all just exceptions.
FAO 85/2021
1. Appellant impugns order dated 04.02.2021, whereby the application of the appellant under Order XXXIX rule 4 read with Section 151 CPC, seeking replacement of bank guarantee no.12880BG17018355 dated 21.10.2017 with a fixed deposit in the name of Director of the appellant or other mode as directed by the Court, has been dismissed.
2. Learned counsel for the appellant submits that appellant was seeking replacement of the bank guarantee with a fixed deposit for the reason that the appellant has been directed to keep the bank guarantee alive during the pendency of the suit and repeated renewals of the bank guarantee are putting unnecessary financial burden on the appellant.
3. Learned counsel for the appella
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