1. This Revision is by the first defendant in O.S. 376 of 1996, on the file of Subordinate Judge, Tiruchirappalli. In this Revision, petitioner has sought for setting aside the ex parte decree of permanent injunction passed on 5-7-1996 by the Subordinate Judge, Tiruchy, and to permit the petitioner to invoke and enforce the Bank Guarantees referred to therein and also to recover costs.

2. In the grounds of Revision, it is said that the first respondent herein entered into an agreement with the revision petitioner for manufacturing and supply of Waste Heat Recovery Boiler for Twin Hearth Furnace. These Furnaces were meant for Durgapur Steel Plant. Petitioner had given an advance of Rs. 29 lakhs to the first respondent herein for part execution of the contract, and in order to guarantee the execution of the work, second respondent-Canara Bank stood as guarantor for the first respondent. As per the terms of the Guarantee, petitioner was to have recourse to enforce the Guarantee without demur, and the Guarantee could not be revoked by notice or otherwise, and it is unconditional. The Guarantee was extended two times, and the last period was to expire by 30-9-1996. At that ti