RAKESH KUMAR SAINI vs THE POWER FINANCE CORPERATION LTD

Judgment text excerpt

$~65 * IN THE HIGH COURT OF DELHI AT NEW DELHI % Date of Decision: 02.04.2026 + LPA 1175/2024 RAKESH KUMAR SAINI .....Appellant Through: Mr. Avadh Bihari Kaushik, Mr. Rishabh Kumar & Mr. Abhishek Kumar, Advocates. versus THE POWER FINANCE CORPERATION LTD .....Respondent Through: Mr. Harish Pandey & Mr. Anshuman Tiwari, Advocates. CORAM: HON'BLE THE CHIEF JUSTICE HON'BLE MR. JUSTICE TEJAS KARIA TEJAS KARIA, J. (Oral) REVIEW PET. 404/2025 1. The present Review Petition has been filed by the Appellant under Order XLVII Rule 1 read with Section 151 of the Code of Civil Procedure, 1908 (“CPC”) for review of the order dated 02.12.2024 (“Order”) passed by the learned Coordinate Bench dismissing LPA No. 1175/2024 (“LPA”) challenging order dated 07.11.2024 (“Impugned Order”) passed in W.P.(C) 12196/2024 (“Writ Petition”) filed by the Appellant. As the said bench is not available, this Review Petition is being considered by this Bench. 2. The Appellant had preferred the Writ Petition praying for quashing the action of the Respondent refusing to cancel the Bonds issued to the LPA 1175/2024 Page 1 of 9 Signature Not Verified Signed By:NEELAM SHARMA Signing Date:06.04.2026 17:15:11 Appellant vide letter dated 16.07.2024 and non-refund of the amount thereof. Further, the Appellant had sought direction to cancel the Bonds allotted to the Appellant vide letter dated 19.06.2024. 3. Vide the Impugned Order, the learned Single Judge had disposed of the Writ Petition by holding that the relief sought in the Writ Petition could not be granted as once the Bonds were issued to the Appellant, the rights and obligations were governed by the specific terms of the Bonds and neither party can alter the same unilaterally. Further, it was held by the learned Single Judge in the Impugned Order that t