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04.01.2023

CM APPL. 181/2023

1. Exemption allowed, subject to all just exceptions.

2. The application stands disposed of.

W.P.(C) 68/2023 & CM APPL. 180/2023 (stay)

3. The petitioner has approached this Court seeking quashing of the

demand notice dated 29.12.2022 issued by respondent no.1 to

respondent nos.2 and 3/banks to encash the three advance bank

guarantees and one performance bank guarantee submitted by the

petitioner in the year 2010. The petitioner also seeks a consequential

direction to the respondent no.1 to return the four bank guarantees in

terms of the arbitral award dated 12.11.2021 and the order passed by

this Court in O.M.P. (COMM) 211/2022 on 27.05.2022.

4. Learned senior counsel for the petitioner submits that once it has been

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categorically held by the arbitral tribunal under the award dated

12.11.2021 that the bank guarantees were required to be returned to

the petitioner, the respondent no.1 could not invoke the same. Moreso,

when a specific stand had been ta