Bank guarantee – ICBC, which is a Scheduled Bank, carrying on business in India, with a Bank Guarantee of equivalent amount issued by a “Scheduled Indian Bank” – Hon’ble Justice Indira Banerjee allowed the appeal and Hon’ble Justice V. Ramasubramanian dismiss the Special Leave Petitions as not giving rise to any substantial question of law warranting interference under Article 136 of the Constitution – Appeal referred to Hon’ble the Chief Justice of India for appropriate directions.
SUPREME COURT OF INDIA DIVISION BENCH SEPCO ELECTRIC POWER CONSTRUCTION CORPORATION — Appellant Vs. POWER MECH PROJECTS LIMITED — Respondent ( Before : Indira Banerjee and V. Ramasubramanian, JJ. )…