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ANIL KSHETARPAL
Kamal Sharma – Appellant
Versus
Ajay Sharma – Respondent
| Table of Content |
|---|
| 1. challenge to first appellate court's interim order. (Para 1 , 2 , 3 , 4) |
| 2. petitioner argues condition for bank guarantee is harsh. (Para 5) |
| 3. court's observation on financial implications of bank guarantees. (Para 6) |
| 4. modification of the bank guarantee terms. (Para 7) |
| 5. conclusion and disposal of the revision petition. (Para 8 , 9) |
JUDGMENT
Mr. Anil Kshetarpal, J.
Despite the service of notice, the respondent has not entered appearance.
2. On 31.05.2023, the operation of the impugned order was ordered to be stayed.
3. In this revision petition, the correctness of the order passed by the First Appellate Court directing the petitioner (appellant before the First Appellate Court) to furnish a bank guarantee of Rs. 20,00,000/- has been assailed.
4. The trial Court, vide judgment and decree dated 16.03.2023, decreed the plaintiff's suit for recovery of Rs. 20,00,000/- along with the simple interest @ 7% per annum from the date of filing of the present suit till the actual realization of the amount. The first appeal is stated to be pending.
5. The learned counsel representing the petitioner submits that the condition of furnishing a bank guarantee of the entire decreta
Replacement of a bank guarantee with a fixed deposit does not alter the core issue of its invocation, allowing for financial relief while still addressing the primary legal dispute.
The court allowed the appellant to provide a bank guarantee instead of a direct deposit, modifying the original conditional stay order.
The court allows substitution of performance guarantees with bank guarantees, enhancing flexibility in civil proceedings.
Courts have discretion to modify orders regarding withdrawal conditions based on previous directives.
Point of law: In defiance of the restraint order, the alienation/assignment was made. If we were to let it go as such, it would defeat the ends of justice and the prevalent public policy. When the co....
Imposing a bank guarantee as a bail condition is illegal, as established by the Supreme Court.
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