CONSORTIUM OF WORLDS WINDOW EXIM PVT LTD & ORS vs AXIS BANK LTD & ORS

$~ * IN THE HIGH COURT OF DELHI AT NEW DELHI % Judgment reserved on: 17.09.2025 Judgment pronounced on: 25.09.2025 LPA 616/2019 CONSORTIUM OF WORLDS WINDOW EXIM PVT LTD & ORS .....Appellants Through: Mr. Parag Tripathi & Mr. Krishnendu Datta, Sr. Advs. along with Mr. Abhishek Puri, Mr. Sahil Grewal, Ms. Surbhi Gupta, Ms. Mishika Bajpai, Mr. Yash Tandon and Mr. Amit Latawa, Advs. versus AXIS BANK LTD & ORS. .....Respondents Through: Mr. Sandeep Sethi, Sr. Adv. along with Mr. Vaijayant Paliwal, Ms. Charu Bansal and Ms. Samyukta Fauzdar, Advs. for R-1 & R-2 Ms. Akriti Sharma, Mr. Hashmat Nabi and Ms. Farah Naaz, Advs. for R-8/PNB CORAM: HON'BLE MR. JUSTICE ANIL KSHETARPAL HON'BLE MR. JUSTICE HARISH VAIDYANATHAN SHANKAR JUDGMENT ANIL KSHETARPAL, J. 1. In substance, the issue before this Court is whether the revocation of the In-Principle Letter of Intent dated 17.08.2018 [hereinafter referred to as “IPLOI”], as amended by the Addendum dated 18.09.2018, and the subsequent invocation of an unconditional Bank Guarantee of Rs.100 crores by the Respondent No.1, was justified in view of the Appellants‟ alleged non-compliance with the 2. The present Appeal under Clause 10 of the Letters Paten