Mr. Sada Nand, Member—This judgment shall dispose of Complaints No. 432 and 435 of 1993 wherein the date of execution of the Bank guarantee was 5.5.89 and also Complaints No. 433 and 434 of 1993 wherein the date of execution of the Bank guarantees was 21.3.89 and for the reason that the facts in question and the parties relating to these complaints happen to be the same.

2. Briefly the complainant entered into an agreement for construction of under ground works of Gaj Hydel Project at Charri in Tehsil Dharamsala (H.P.). M/s. Kropivnik Cableways Private Limited were to act as sub-contractor. The complainant agreed to make an advance payment to the extent of Rs. 2.50 lacs to aforesaid sub-contractor and in this regard the aforesaid sub-contractor furnished a Bank guarantee on 5.5.89 which was valid till 4.5.90 for a period of one year. The respondent Bank had undertaken to pay to the complainant on demand all the amounts which were payable by the sub-contractor alongwith any amount upto the maximum sum of Rs. 2.50 lakhs. There was an agreement that if there was any loss suffered by the Company, it was to be of the Company itself which would be final and binding on the Bank. It as