IN THE SUPREME COURT OF BANGLADESH HIGH COURT DIVISION

(CIVIL REVISIONAL JURISDICTION)

CIVIL REVISION NO. 2403 OF 2020

In the matter of:

An application under Section 115(1) of the Code of Civil

Procedure.

AND

In the matter of:

M/s. Haji Traders represented by its Proprietor Alhaz Md. Al-Amin Ahmed, son of Alhaz Haez Md. Omar Faruque and another.

.... Petitioners -Versus-

Aman Cement Mills Unit-2 Ltd. represented by its Managing Director and others.

....Opposite-parties Mr. Amit Das Gupta, Advocate

... For the petitioners

Mr. Meah Mohammed Kausar Alam, Advocate

...For the opposite-party nos. 1 and 2

Mr. Tirtha Salil Pal, Advocate

...For the opposite-party no. 3

Heard on 10.01.2024 and 17.01.2024. Judgment on 21.01.2024.

Present:

Mr. Justice Md. Mozibur Rahman Miah

And

Mr. Justice Mohi Uddin Shamim

Md. Mozibur Rahman Miah, J:

At the instance of the applicants in Arbitration Miscellaneous Case No. 03 of 2020 so filed under section 7ka of the Arbitration Act, 2001, this rule was issued calling upon the opposite-parties to show cause as to why the judgment and order dated 01.12.2020 passed by the learned District Judge, Mymensingh in the said case rejecting the same and thereby vacating the order of ad-interim temporary injunction passed dated 20.01.2020 should not be set aside and/or such other or further order or orders passed as to this court may seem fit and proper.

At the time of issuance of the rule, all further proceedings of the judgment and order dated 01.12.2020 passed by the learned District Judge, Mymensingh in the said Arbitration Miscellaneous Case No. 03 of 2020 was stayed for a period of 3(three) months. That order of stay was subsequently extended from time to time and it was lastly extended on 02.03.2022 till disposal of the rule.

The present petitioners as applicants filed the aforesaid Miscellaneous Case seeking following reliefs:

“Wherefore, it is most humble prayed that your honour would graciously be pleased to pass an order of ad interim injunction restraining the opposite-party nos. 1 and 2 from encashing the Bank Guarantee No. MBL/MYM/BG/2017/02 dated 05.04.2017 for Taka 1,00,00,000/- (Taka One Crore) only lying with the opposite-party no. 3 (Schedule-A to the Application) and encashing 3(three) blank cheques bearing No. 1226347, 1226348 and 1226349 executed by the Applicant No. 2 of his Account No. 1157117093201 maintained with the opposite-party no. 3 i.e. the Bank (Schedule-B to the Application) thus oblige thereby.”

The salient facts so figured in the said Arbitration Miscellaneous

Case are:

On 11.06.2017, the applicant-petitioner no. 1 entered into sales and credit agreement for Distributor with Aman Cement Mills Unit-2 Limited represented by its Chief Marketing Officer and through the said agreement, the opposite-party no. 1 appointed the applicant no. 1 as distributor for sale of the cement so manufactured by the Aman Cement, opposite-party no. 1 for a period of 3(three) years from the execution of the said agreement starting from June, 2017 till May, 2020. After that, on 05.04.2017, the opposite-party no. 2 on behalf of the opposite-party no. 1 issued a confirmation letter in favour of the applicant no. 1 to the effect that the applicants would give them agreed security deposit upon furnishing bank guarantee of taka one crore. In order to confirm the said distributorship in favour of the applicants as per terms and conditions so provided in clause no. 9 to the agreement dated 11.06.2017, the opposite-party also kept three blank cheques executed by the applicant no. 2 of his account no. 1157117093201 maintained with the opposite-party no. 3, the Mercantile Bank Limited. Subsequently, on 05.04.2017, the applicant-petitioner no. 2 also executed bank guarantee for taka one crore with the opposite-party no. 3 issued in favour of the opposite-party no. 1. After completion of all those official formalities, the applicants have been engaged in the business of dealing in distributing and selling of c