JUDGMENT

This writ petition is submitted by the petitioner, being aggrieved by the steps taken by respondent Nos. 1 to 3 to invoke the bank guarantee furnished by the petitioner for the purpose of the contract entered into between the parties. Today, when the matter came up for consideration, it is submitted by the petitioner and the respondents that the arbitration clause has already been invoked and, as part of the same, an arbitrator has also been appointed.

In such circumstances, this writ petition is closed without prejudice to the contentions of the parties, to be decided by the arbitrator. As this Court has granted an interim order on 26.03.2025 not to encash Exts.P23 and P24 bank guarantees, the said interim order will continue for a period of three months, subject to the condition that the petitioner shall keep the bank guarantee alive.