Raj Kumar Jain & ANR. v. Union Of India

OD - 4 FEA/2/2005

IN THE HIGH COURT AT CALCUTTA

Special Jurisdiction (Foreign Exchange) ORIGINAL SIDE RAJ KUMAR JAIN & ANR.

-VersusUNION OF INDIA BEFORE :

THE HON'BLE JUSTICE DEBANGSU BASAK And THE HON'BLE JUSTICE MD. SHABBAR RASHIDI Date : 15th June, 2023 Appearance :

Mr. Arijit Chakraborti, Adv.

...for the respondent.

The Court : None appears for the appellants.

Learned advocate appearing for the respondent submits that, in the earlier round of litigation, bank guarantee for 25% of the claimed amount was directed to be furnished which the appellants furnished and the same is still alive. In the second round of litigation, 10% of the claimed amount was directed to be secured by way of bank guarantee which the appellants did and the same is still alive.

In view of non-appearance of the appellants today, as also on June 6, 2023, FEA/2/2005 is dismissed. All interim orders are vacated.

The respondent is at liberty to encash the subsisting bank guarantees and appropriate the proceeds thereof towards the pro tanto satisfaction of its claim.

The respondent is at liberty to proceed in accordance with law as against the appellants for recovery of the balance amount of claim.

(DEBANGSU BASAK, J.) (MD. SHABBAR RASHIDI, J.) sm.