- (1.) This is a revision petition directed against the judgment dated 1st February, 1983, passed by the learned Addl. District Judge, No. 2, Alwar in Civil Misc. Appeal No. 46 of 1981.
(2.) The petitioner-plaintiff filed a suit for permanent injunction against the defendants praying that the defendants be restrained from forfeiting the amount of bank guarantee furnished by the plaintiff and if the defendants claim to have forfeited the bank guarantee, then they should be restrained from withdrawing the same from the Bank. It was submitted that there was a breach of contract and the defendant only partially complied with it and supplied a part of the raw-material which was agreed upon between the parties. It was also submitted that time was extended from time to time.
(3.) Mr. Lodha appearing on behalf of the petitioner has referred the case of State Bank of India v. Economic Trading Co., AIR 1975 Cal 145, and submitted that a bank guarantee has a dual aspect. It is not merely a contract between the bank and the beneficiary of the guarantee; it is also a security given to the beneficiary by a third party. He submits that it is a trilateral contract and not only bilateral contract.;