2020 (2) TMI 1680

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....r Ray. For the Respondent No. 1 in  MAT 916 of 2019 and the Petitioner in COT 55 of 2019 : Mr. Tilok Bose, Ms. Vineeta Meharia,  Ms. Urmila Chakraborty,  Ms. Subika Paul. For the Respondent No. 2 : Mr. Krishnendu Bhattacharya, Mr. Priyankar Ganguly. ORDER Since the appellants cannot proceed with the matter, MAT 916 of 2019 is dismissed for default. There is a cross-ob....

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....onditional bank guarantee was furnished by the appellants herein on behalf of Simplex for about Rs.6.97 crore. According to IOCL, despite Simplex being given 50% of the mobilisation advance, no work was forthcoming. After IOCL issued several notices to Simplex which went unheeded, IOCL invoked the bank guarantee. It is submitted on behalf of IOCL that notwithstanding the bank having no right to....

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.... the ground that the money may not have been made available by Simplex to the bank. IOCL says that it was in such circumstances that IOCL was constrained to invoke the writ jurisdiction of this court for a direction on the Bank of Baroda to release the payment under the unconditional bank guarantee. IOCL maintains that in such circumstances and considering the conduct of the Bank of Baroda, an ....