National Projects Construction Corporation Ltd. v. Indian Institute Of Technology (Iit)

21.09.2020 rrc FMA 839 of 2020 [National Projects Construction Corporation Limited Vs. Indian Institute of Technology (IIT), Kharagpur] with CAN No. 1 of 2020 (old CAN 4658 of 2020) with CAN No. 2 of 2020 (old CAN 4659 of 2020) (via video conferencing) Mr. Debajyoti Basu Ms. Reshmi Mukherjee ....For the appellant Mr. R. N. Majumder ....For the respondent The issue involved is very short. By consent of the parties the appeal and the applications are treated as on the day's list by admitting the same and disposing of it by this judgment and order.

The subject bank guarantee encashment amount will be kept by the respondent Institute in a separate term deposit account earning the highest rate of interest with a nationalized bank. The respondent Institute shall furnish a copy of the term deposit receipt to the appellant together with information about any renewal, half-yearly statements of account regarding accrual and credit of interest. This deposit will abide by any decree or order passed by a civil court or any award passed by a learned Arbitrator with regard to the subject-matter of dispute between the parties.

The appeal and the applications are disposed of. ( I. P. Mukerji, J. ) (Md. Nizamuddin, J.)