Ge T&D India Limited v. Lanco Infratech Limited & ANR.

$~13 * IN THE HIGH COURT OF DELHI AT NEW DELHI + O.M.P.(I) (COMM.) 281/2017 GE T&D INDIA LIMITED ..... Petitioner Through: Mr.Rajsekhar Rao, Mr.Sulabh Rewari, Advs.

versus LANCO INFRATECH LIMITED & ANR.

..... Respondents Through: Mr.Deepak Khurana, Adv.

CORAM:

HON'BLE MR. JUSTICE NAVIN CHAWLA

O R D E R

% 24.05.2018 Counsel for the petitioner prays for leave to withdraw the present petition. He submits that this petition had been filed only by way of abundant caution inasmuch as the bank guarantee in question was not valid and existing on the date when the said petition was filed.

On the other hand, counsel for the respondents submits that the petitioner has enjoyed the interim protection right since 26th July, 2017 and the same had been extended only subject to the condition that the bank guarantee shall be kept alive by the petitioner. In my view, while granting leave to the petitioner to withdraw the present petition, equities can be balanced by directing that if the bank guarantee in question could have been invoked and encashed as on 26th July, 2017, the date of the interim order, the bank would honour any invocation made by the respondents. The petition is dismissed as withdrawn with the above directions.

Dasti.

NAVIN CHAWLA, J MAY 24, 2018 RN