Law:

Section:

Specific Relief Act (I of 1877)--- --------Sections 42 & 54---Power Policy, 2002, Art.5.2, Para. 25---Civil Procedure Code (V of 1908), O.XXXIX, Rr.1 & 2---Suit for declaration and injunction---Intra-court appeal---Interim injunction, grant of---Performance guarantee---Encashment---Plaintiff company was declared as successful bidder for setting up of 200 Megawatt power-plant and for the purpose, a Letter of Support (LOS) was issued in its favour by Private Power and Infrastructure Board (PPIB)---Plaintiff company provided a Performance Guarantee at the rate of US 5000 per Megawatt in favour of PPIB for a period of three months in excess of validity of the LOS---Plaintiff company could not perform its part therefore, Private Power and Infrastructure Board intended to encash Performance guarantee---If there was a possibility that Financial Close was not to be achieved on stipulated date, the contract entered into between parties through LOS specifically provided that a further extension of three months could have been provided to plaintiff upon them having provided additional Performance guarantee---Intent and bona fide of the Board was evident that it seriously wished that Financial Close to be achieved by intending participants either within first period or within extended date because alarming misery of people at large was at stake, who were desperate to have been provided with electricity to improve standard of their lives---Incumbents who merely were visiting process by anchoring into mechanism by making a small investment had been trying to fish third party into the net had no place in the system and could not be allowed trafficking of opportunities provided by the Power Policy---High Court declined to interfere with orders passed by Single Judge of High Court who had rightly dismissed injunction application against encashment of Performance Guarantee---Intra-court appeal was dismissed in circumstances. THIS JUDGMENT DELIVERED BY: ZULFIQAR AHMAD KHAN, JUSTICE:------------------ Being aggrieved by the order passed by the learned Single Judge in C.M.A. No.5699/2009 in Suit No.795/2009, the instant appeal has been assailed. Brief facts of the case are…

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