Sepc Limited vs Steel Authority Of India Limited
2023 Latest Caselaw 9499 Mad

                                                                                       C.S.No.194 of 2021

                                    IN THE HIGH COURT OF JUDICATURE AT MADRAS

                                                      DATED: 02.08.2023

                                                            CORAM

                                     THE HONOURABLE MS.JUSTICE R.N.MANJULA

                                                      C.S.No.194 of 2021
                                                    and O.A.No.333 of 2021
                     SEPC Limited
                     (formerly Shriram EPC Limited)
                     Represented by its authorized signatory,
                     R.Sridharan, Sr Vice President- Secretarial & Legal
                     SEPC Limited, Bascon Futura BV,
                     IV Floor, No.10/1, Venkatanarayana Road,
                     T.Nagar, Chennai 600 017.                                       … Plaintiff

                                                               Vs.

                     1.Steel Authority of India Limited,
                       Durgapur Steel Plant, Durgapur 713 203,
                       West Bengal rep by its General Manager (IPM-MM)

                     2.Axis Bank Limited,
                       Cooperate Banking Branch
                       New No.3/ Old No.2, Club House Road,
                       Near Taj Club House,
                       Anna Salai, Chennai 600 002                                   . . . Defendants

                     PRAYER: Plaint filed under Order IV Rule 1 of Original Side Rules r/w
                     Order VII Rule 1 of C.P.C., praying for the following judgment and decree
                     as against the defendants;
                                  a) Permanent injunction restraining the first defendant, their men,
                     agents or any one claiming through or under them, from in any manner
                     invoking the BG No.11650100000207 dated 31.12.2010 for a sum of
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                                                                                           C.S.No.194 of 2021

                     Rs.3,39,94,010/- (Rupees Three Crores Thirty Nine Lakhs Ninety Four
                     Thousand and Ten only) now valid upto 31.10.2021 with claim period until
                     31.10.2022 and consequentially restrain the second defendant from paying
                     any money to the first defendant against the said Bank Guarantee; and
                                  b) to award the cost of the suit.


                                            For Plaintiff             : Mr.K.Balamurali for
                                                                        M/s.Shivakumar and Suresh

                                            For Defendants            : Mr.V.V.Sivakumar for D2
                                                                        D1 – Ex parte

                                                            JUDGMENT

This suit has been filed seeking permanent injunction restraining the

first defendant, their men, agents or any one claiming through or under

them, from in any manner invoking the BG No.11650100000207 dated

31.12.2010 for a sum of Rs.3,39,94,010/- (Rupees Three Crores Thirty Nine

Lakhs Ninety Four Thousand and Ten only) now valid upto 31.10.2021 with

claim period until 31.10.2022 and consequentially restrain the second

defendant from paying any money to the first defendant against the said

Bank Guarantee.

2. The learned counsel for the plaintiff filed a memo on 02.08.2023

stating that the plaintiff may be permitted to withdraw the above suit with

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C.S.No.194 of 2021

liberty to institute a fresh suit or other appropriate legal proceedings for the

subject matter of the suit.

3. In view of the memo filed by the plaintiff, permission is granted to

the plaintiff to withdraw the suit with liberty to institute a fresh suit, in case

he gets a fresh cause of action in respect of the same transaction. The

contents of the memo dated 02.08.2023, shall form a part of this judgment.

No costs. Consequently, connected application is closed.

02.08.2023

Index :Yes/No gsk

https://www.mhc.tn.gov.in/judis

C.S.No.194 of 2021

R.N.MANJULA, J.

gsk

C.S.No.194 of 2021 and O.A.No.333 of 2021

02.08.2023

https://www.mhc.tn.gov.in/judis