TMI Blog2020 (5) TMI 294X X X X Extracts X X X X X X X X Extracts X X X X ..... 39;BLE MR. JUSTICE C. HARI SHANKAR Petitioner Through: Mr. Rajiv Nayar, Sr. Advocate with Mr. Kartik Nayar, Ms. Anindita Roychowdhury, Ms.Vatsala Rai and Mr. Raghav Chadha, Advs. Respondents Through: Mr. V.N.Koura, Mr. Siddharth Baruah and Mr. Ankur Mittal, Advs. O R D E R 1. This matter has been taken up for hearing on video conferencing, consequent to listing thereof having been allowed by the Registrar of this Court. 2. This writ petition, filed by Mr. Ashwini Mehra, as a Resolution Professional of M/s. Punj Lloyd Limited (PLL) under Article 226 of the Constitution of India, essentially seeks issuance of appropriate writ, quashing and setting aside the actions of IOCL, who sought to invoke certain bank guarantees, w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 5. Mr. Koura submits that, consequent upon the said order, as such the IOCL has moved an application before the NCLT, seeking vacation of the interim order passed by it, on the ground that the NCLT did not possess the jurisdiction to pass the said order. However, it is not in dispute that the said plea is yet to be heard and decided as of today, therefore, the order dated 13 th December, 2019 (supra), passed by the NCLT continues to remain enforced. By the said order, the NCLT has exercised jurisdiction and stayed the invocation of the bank guarantees, submitted by the PLL, though the IOCL, through Mr. Koura has serious misgivings on pleading regarding propriety of such exercise. 6. Mr. Nayar s submission is that, his client, in the pres ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... that, therefore, the prayer in the writ petition does not survive qua the said bank guarantees. 7. In WP (C) 2766/2020, which is also between the present petitioner and respondent, an identical controversy arises, qua three other bank guarantees. I have disposed of that writ petition by staying the encashment of the said bank guarantees till the expiry of one week from 3rd May, 2020. I was inclined to do so in the present case as well; however, Mr Kaura submits that he desires to take instructions from his client and, therefore, requests that this writ petition be not disposed of. 8. For the aforesaid reasons, issue notice to the respondents to show cause as to why rule nisi be not issued. 9. Notice is accepted by Mr. Koura, learne ..... X X X X Extracts X X X X X X X X Extracts X X X X
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