GEPS PROJECTS vs INDIABULLS ESTATE LIMITED

Judgment text excerpt

$~60 * IN THE HIGH COURT OF DELHI AT NEW DELHI Date of decision: 24.07.2025 + FAO (COMM) 191/2025 GEPS PROJECTS .....Appellant Through: Mr.Akshay Srivastava and Mr.Suryansh Vashisth, Advs. versus INDIABULLS ESTATE LIMITED .....Respondent Through: None CORAM: HON'BLE MR. JUSTICE NAVIN CHAWLA HON’BLE MS. JUSTICE MADHU JAIN NAVIN CHAWLA, J. (ORAL) CM APPL. 44309/2025 (Exemption) 1. Allowed, subject to all just exceptions. FAO (COMM) 191/2025 & CM APPL. 44308/2025 2. This appeal has been filed by the appellant, challenging the Order dated 08.07.2025 passed by the learned District Judge, Commercial Court-01, Patiala House Courts, New Delhi (hereinafter referred to as the, ‘Trial Court’) in OMP (I) COMM 01/2025, titled GEPS Projects v. Indiabulls Estate Limited, whereby the application filed by the appellant herein under Section 9 of the Arbitration and Conciliation Act, 1996 was dismissed. Signature Not Verified Digitally Signed FAO (COMM) 191/2025 Page 1 of 3 By:REYMON VASHIST Signing Date:28.07.2025 20:03:37 3. The appellant had filed the said application seeking an interim injunction against the respondent, restraining it from encashing the bank guarantee that had been submitted by the appellant to the respondent in terms of the Work Orders bearing Nos. 3210100078 and 3228105495. 4. The learned District Judge, however, placing reliance on the Judgment of the Supreme Court in Standard Chartered Bank v. Heavy Engineering Corporation. Ltd., (2020) 13 SCC 574; Vinitec Electronics Pvt. Ltd. v. HCL Infosystems Ltd., (2008) 1 SCC 544, and of this Court in CRSC Research and Design Institute Group Co. Ltd. v. Dedicated Freight Corridor Corpn. of India Ltd., 2020 SCC OnLine Del 1526, held that a bank guarantee being a separate contract, its invocation can be injuncted only on the l