DEVELOPMENT CONSULTANT PVT LTD Vs. INDUSTRIAL DEVELOPMENT BANK OF INDIA
HIGH COURT OF CALCUTTA
DEVELOPMENT CONSULTANT PVT LTD
INDUSTRIAL DEVELOPMENT BANK OF INDIA
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(1.)The Court: Only a few relevant facts need to be stated for the disposal of the instant application filed for injunction restraining the invocation of the bank guarantee.
(2.)The defendant No. 3 (Ansaldo Service Pvt. Ltd.) hereinafter referred to 'ASPL' entered into contract with The Neyveli Lignite Corporation Limited, on December 10, 1998 for construction of a 2 X 210 MW Expansion of the First Thermal Power Project Station at Neyveli, Tamil Nadu.
(3.)Plaintiff (Development Consultants Pvt. Ltd.) hereinafter referred to as 'DCL' and the defendant No. 2 (U.B. Engineering Limited) hereinafter referred to as the 'UBEL' formed into a consortium in respect of ther two sub-contracts bearing Nos. 229225 and 229226 entered into by and between ASPL and UBEL and DCL. Sub contracts are dated April 15, 1999 and the consortium agreement between UBEL and DCL is dated August 4, 1999.
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