Caparo Power Ltd v. Indian Oil Corporation Ltd And ANR

$~11 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 5/2020 CAPARO POWER LTD ..... Petitioner Through Mr. Puneet Singh Bindra and Mr.

Akash Singh, Advocates.

versus INDIAN OIL CORPORATION LTD AND ANR ..... Respondents Through None.

CORAM:

HON'BLE MS. JUSTICE JYOTI SINGH

O R D E R

% 08.01.2020 I.A. 160/2020 (Exemption) Allowed, subject to all just exceptions.

Application is disposed of.

O.M.P.(I) (COMM.) 5/2020 The present petition has been filed seeking restraint against invocation of the letter of credit issued by the petitioner in favour of respondent No. 1 through respondent No. 2.

Learned counsel for the petitioner, at the outset, points out that the respondent No. 1 by a letter dated 07.01.2020 has communicated to the petitioner that the letter of invocation of the letter of credit will be withdrawn by respondent No. 1 subject to the petitioner extending the validity of the letter of credit till 30.01.2020. Learned counsel for the petitioner submits that in view of said development, subsequent to the filing of the present petition, he has

instructions to withdraw the present petition. The petitioner is permitted to withdraw the present petition in view of the letter dated 07.01.2020.

The letter is taken on record.

Petition is disposed of as withdrawn.

JYOTI SINGH, J JANUARY 08, 2020 yo/