Supreme Court of India
M/s Jindal Steel and Power Ltd. & Anr. v. M/s Bansal Infra Projects Pvt. Ltd. & Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
What the Court ordered
We are of the view that the order passed by the High Court is merely an interim measure intended to protect the interests of both parties.
Judgment, page 15
From the headnote
Issue for Consideration Appellants issued work order to 1st respondent for construction of flats and paid advance. Bank guarantee equivalent to the advance money was furnished by 1st respondent to secure the amount. When the work got delayed and disputes arose between the parties, the appellants requested refund of debit balance, failing which the bank guarantee was to be encashed. The 1 st respondent filed petition under Section 9 of the Arbitration and Conciliation Act, 1996, before the Commercial Court, along with applications under Order XXXIX Rules 1 and 2 and Order XXXIX Rule 3 CPC, so
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