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<h1>Court rules bank guarantee cannot be encashed until appeal heard. Appeal must be resolved within 4 weeks.</h1> The High Court at Calcutta ruled that no order can be passed on encashing a bank guarantee until the appeal is heard. The Authority must dispose of the ... Stay/Dispensation of pre-deposit The High Court at Calcutta ruled that no order can be passed on encashing a bank guarantee until the appeal is heard. The Authority must dispose of the appeal and stay application within four weeks. No bank guarantee will be encashed until the appeal is resolved. The writ petition was disposed of without costs. No allegations were admitted as no affidavits were used. Xeroxed certified copies of the order will be provided to the parties within seven days. All parties must act on a Xeroxed signed copy of the order.
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