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Judgment
Heard Mr. Vikas Singh, learned senior counsel for the petitioner and Mr. Apoorv Kurup, learned counsel for the respondent. The matter requires some more detailed hearing.
Learned counsel for the respondent seeks permission to file an affidavit to bring on record certain facts. This is in addition to the reply already filed. In the interest of justice, the prayer is allowed. The affidavit may be filed within a week. The petitioner, if so advised, may also file a response or rejoinder to the proposed affidavit within two weeks after receipt of a copy of the affidavit.
By an order passed on 12.8.2021, this Tribunal recorded that prima-facie, it is satisfied with the case of the petitioner that it is no longer under legal obligations to renew the Bank Guarantee(s) indefinitely or for any further period. However, for practical reasons, the petitioner was directed to get the Bank Guarantee in question renewed for three months only. It was recorded that this Tribunal is not inclined to allow the prayer of the respondent for longer renewal.
It was expected that in the facts of the case, the matter could be resolved amicably but that has not happened. This Tribunal finds no good reasons to depart from its earlier prima-facie view. Hence, the prayer made on behalf of respondent to ask the petitioner to get the bank guarantee renewed till final hearing is declined. However, in the interest of justice, the petitioner is directed to submit an undertaking to this Tribunal that in case the petitioner is unsuccessful, it will renew the Bank Guarantee, if required, by the final order.
List the matter for hearing on 10.1.2022.