- (1.) Since the appellants cannot proceed with the matter, MAT 916 of 2019 is dismissed for default.
(2.) There is a cross-objection by the first respondent in the appeal, COT 55 of 2019, which is taken up immediately upon the dismissal of the appeal.
(3.) According to the first respondent- Indian Oil Corporation Limited (IOCL), it entered into an agreement with one Simplex Projects Limited in 2017 for undertaking certain work at the Bongaigaon facility of IOCL. In terms of such agreement, IOCL was obliged to make a mobilisation advance against a bank guarantee. In addition, Simplex was also required to furnish a bank guarantee on account of security deposit.;