However, the bank chose number to make the payment and in fact on 28th of April, 1988, the High Court granted stay of encashment of the bank guarantee.
This Court in that order also numbered that the bank guarantee in question had expired on 24th of February, 1989.
After some arguments were advanced by the learned companynsel for the parties, our attention was drawn to an order of this Court dated 3rd of August, 2001 from which it appears that the appellant had invoked the bank guarantee on 29th of March, 1988.
The aforesaid appeal arises out of a suit filed by respondent No.1 Macgregor Navire Port Equipment A.B. against the appellant and also against respondent No.2, inter alia, for an injunction restraining the appellant from encashing a bank guarantee issued by the bank at the instance of the respondent No.1.
The Board of Trustees of the Port of Bombay is the appellant before us.
