Heard learned counsel for the parties.

2. Petitioner, M/s Adhunik Power and Natural Resources Limited( herein after referred to as A.P.N.R.L) has sought a declaration that the respondent- Central Coalfields Limited (herein after referred to as 'CCL') cannot adjust and/or recover the alleged outstanding amount of Rs.13,46,66,861.42 of its Group Company M/s Adhunik Alloys and Power Limited (hereinafter to be referred to as 'A.A.P.L') from the Bank Guarantee amount of the petitioner Company lying with the Respondent- CCL pursuant to the Fuel Supply Agreement and/or Memorandum of Understanding for Supply of Coal dated 22.7.2015 (Annexure-3) It has also sought quashing of the letter dated 29.7.2016 issued by the Respondent no.2 to the Respondent- Bank for encashment of the Bank Guarantees of the petitioner, as being wholly arbitrary, illegal and an act of egregious fraud. It has sought restrainment upon CCL from adjusting and/or recovering the outstanding amount of Rs. 13,46,66,861.42 being the alleged dues of its Group Company M/s Adhunik Alloys and Power Limited.

3. The re