R K Jain Infra Projects Private Limited vs. National Highway Authority of India
Background
The petitioner, a road infrastructure contractor, approached the Court seeking interim protection in relation to a bank guarantee that NHAI (the respondent) might invoke or extend, in the context of an underlying contractual/arbitral dispute.
Decision Breakdown
At the hearing, NHAI's counsel confirmed to the Court that the bank guarantee in question had already expired and that NHAI was neither extending it nor seeking to invoke it. On this statement, the petitioner's counsel sought leave to withdraw the petition, reserving liberty to pursue any other legal remedy available. The Court granted this and disposed of the petition, along with pending applications, as withdrawn.
Lesson Learnt
When the opposing party formally confirms in court that it will not act on an expired financial instrument (like a bank guarantee), the need for urgent interim court protection typically disappears, and the petition can simply be withdrawn rather than fought on merits.