TaxTMI 
TaxTMI 
2024 (4) TMI 309
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....India is filed praying for the following substantive reliefs : "A. Issue a writ of mandamus or certiorari or any other order, writ or direction restraining respondent nos. 1 and 3, its officers and any one claiming through or under respondent no. 1 and 3 from invoking and encashing the Bank Guarantee bearing No: 120126IBGF00167 (annexed hereto as Exhibit 'B') dated 30 March, 2012 for an amount of INR 80 crore, issued by the respondent no. 3 for and behalf of the petitioner in favour of the respondent no. 1. B. Issue a writ of mandamus directing respondent no. 2 to renew the Bank Guarantee bearing No: 120126IBGF00167 (annexed hereto as Exhibit 'B') dated 30th March, 2012 for an amount of INR 80 Crore, at its cost and expens....
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....e petitioner issued the bank guarantee dated 30 March, 2012 bearing guarantee no. 120126IBGF00167 for an amount of INR 80 crores, which was last amended on 3 April, 2023, thereby extending its expiry date to 20 March, 2024 and extending its claim expiry date 20 September, 2024. It was agreed that in case requisite approval is not granted by CCEA, RGPPL will pay duty and other charges as applicable for the goods imported by it." 5. It appears that subsequent thereto, the petitioner business in question was demerged, which was taken over by respondent no. 2-Konkan LNG Limited (for short "KLL") in pursuance of an order dated 28 February, 2018 passed by the National Company Law Appellate Tribunal, which approved the scheme of merger between ....
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....lusion. 8. In light of the above observations, I hold that the interest of justice would be served by setting aside the impugned order and remanding the matter back to the Original Authority with the direction to ascertain the facts as per the scheme of demerger sanctioned by the NCLAT and pass a Speaking Order including request of the appellant to redeem Bank Guarantee of Rs. 80 crore in favour of them. 10. Accordingly, the Order in Original No. 357/AC/NSKR/Contract Cell/2022-23 dated 24.3.2023 is set aside and the matter is remanded to the Original Authority with direction as discussed above. The appellant should be given the opportunity of making submissions and personal hearing by the original authority in compliance o....
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....that as it may, insofar the present proceedings are concerned, it appears that the adjudication proceedings now stands remanded to the Original Authority/ Assistant Commissioner, who is seized of the matter in pursuance of the order passed by the Appellate Authority, and who is now called upon to decide on the remanded issues including on the issue of the party required to furnish the bank guarantee. In such circumstances, in our opinion, it would be appropriate that in this regard we keep open all contentions of the parties, to be urged before the Assistant Commissioner/Original Authority, before whom the proceedings are pending including on the issue of extension of bank guarantee either by the petitioner or respondent no. 2-KLL. We may a....