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SANJAY KUMAR, P.KESHAVA RAO
Everest Industries Ltd. – Appellant
Versus
MW High Tech Projects India Pvt. Ltd. – Respondent
ORDER :
Sanjay Kumar, J.
1. These two appeals arise out of the order dated 15.07.2019 passed by the learned Judge, Commercial Court-cum-XXIV Additional Chief Judge, City Civil Court, Hyderabad ( for brevity, ‘the Commercial Court’), in C.O.P.No.31 of 2019, a petition filed under Section 9 of the Arbitration and Conciliation Act, 1996. They are therefore amenable to final disposal at the stage of admission by way of this common order.
2. The core issue that arises before us presently is whether the Commercial Court was justified in refusing to grant an injunction as prayed for by Everest Industries Limited, NOIDA, Uttar Pradesh, the petitioner in C.O.P.No.31 of 2019, restraining MW High Tech Projects India Private Limited, Hyderabad, the first respondent therein, from invoking the unconditional bank guarantee issued by Kotak Mahindra Bank Limited, the second respondent therein. In consequence, the issue also arises as to whether the Commercial Court was right in thereafter directing MW High Tech Projects India Private Limited, the first respondent, to furnish third party security, despite refusal of an injunction, and to pay proportionate costs.
3. Parties shall hereinafter be referred
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