Law:

Section:

(a) Civil Procedure Code (V of 1908)-------O.XXXIX, Rr.1 & 2---Constitution of Pakistan (1973), Art. l99---Constitutional petition---Interim injunction, grant of---Prima facie case and balance of convenience---Bank guarantee, encashment of---Plaintiffs provided Bank guarantee to the Bank for sanction of loan---Loanee failed to repay the loan and the Bank was arranging to encash the guarantee provided by the plaintiffs---Both the Courts below declined to grant interim injunction to the plaintiffs against encashment of guarantees ---Contention of the plaintiffs was that Bank guarantee could not be encashed as the Bank had failed to carry out joint audit and the accounts had not been settled---Validity---Parties were not consensus ad idem that the final accounts would be subject to joint audit---No provision in the agreement existed to the effect that the parties would carry out joint audit and thereafter, the calculated amount would be paid by the petitioners--¬Contention of the plaintiffs was misconceived and mis¬directed---Plaintiffs did not have prima facie case in their favour entitling them for grant of temporary injunction restraining the Bank from encashing the Bank guarantee and balance of convenience tilted in favour of the Bank--¬Orders passed by both the Courts below were legal, unexceptional and did riot call for any interference by High Court in exercise of Constitutional jurisdiction, thus both the orders were maintained. Messrs Jamia Industries Ltd. v. Messrs Pakistan Refinery Ltd., Karachi PLD 1976 Kar. 644; Sirafi Trading Establishment v. Trading Corporation of Pakistan Ltd. 1984 CLC 381; Attock Industrial Products Ltd. v. Heavy Mechanical Complex (Pvt.) Ltd. 1999 MLD 1876; Manzoor Textile Mills Ltd. v. Special Judge Banking, Lahore and others 1996 CLC 422 and Messrs National Construction Ltd. v. Aiwan-e-Iqbal Authority PLD 1994 SC 311 ref. (b) Civil Procedure Code (V of 1908)--- ----O.XXXIX, Rr.1 & 2---Interim injunction, grant of--¬Irreparable loss---Proof---Loss measurable in terms of money---Injunction was sought against encashing of Bank guarantee---Validity---Loss caused to plaintiffs on account of encashment of Bank guarantee was…

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