Adept Fluidyne Private Limited, ... vs Hdfc Bank Limited, Pune And Anr
2022 Latest Caselaw 6302 Bom

                                       27-COARA-1-2022 WITH IA-4232-2021 IN COARA-1-2022.DOC




                   Ashwini



                        IN THE HIGH COURT OF JUDICATURE AT BOMBAY
                                   CIVIL APPELLATE JURISDICTION
                             IN ITS COMMERCIAL APPELLATE DIVISION
                             COMM ARBITRATION APPEAL NO. 1 OF 2022
                                                    WITH
                               INTERIM APPLICATION NO. 4232 OF 2021
                                                      IN
                             COMM ARBITRATION APPEAL NO. 1 OF 2022


                   Adept Fluidyne Pvt Ltd, Pune                                ...Appellant
                        Versus
                   HDFC Bank Ltd, Pune & Anr                                ...Respondents


                   Mr TD Deshmukh, with Sagar Kursija, for the Appellant.
                   Mr Suraj Dessai Almedia, with Hrishikesh More & Tarun Rebello, for
                        the Respondents.

ASHWINI
HULGOJI
GAJAKOSH                                   CORAM        G.S. Patel &
Digitally signed
                                                        Madhav J. Jamdar, JJ.

by ASHWINI HULGOJI GAJAKOSH DATED: 5th July 2022 Date: 2022.07.06 13:57:10 +0530 PC:-

1. The Appeal is directed against an order and judgment dated 22nd September 2021 of the District Judge-2, Pune declining to grant the Appellant relief under Section 9 of the Arbitration and Conciliation Act 1996. The Appellant sought a restraint against the Respondent from invoking an Advance Bank Guarantee dated 16th

5th July 2022 27-COARA-1-2022 WITH IA-4232-2021 IN COARA-1-2022.DOC

March 2020, a copy of which is at pages 112 to 113 of the Appeal paper book.

2. We are informed that after invocation, the bank guarantee has been encashed and the amount paid over to the Respondents.

3. The Appeal is therefore infructuous. It will not be possible to reverse the factual position.

4. We leave it to the Appellant to seek appropriate reliefs in arbitration including by way of an Interim Application under Section 17 of the Arbitration and Conciliation Act 1996. For the purposes of the arbitration and the Interim Application under Section 17, all contentions are expressly kept open.

5. The Appeal is disposed of in these terms. No costs.

(Madhav J. Jamdar, J) (G. S. Patel, J)

5th July 2022