Green Gold Timber Pvt. Ltd vs Shipra Ocean Trade Pvt. Ltd

The Supreme Court held that in accordance with the precedent set in M/s. Mechalec Engineers & Manufacturers vs. M/s. Basic Equipment Corporation, if the defendant demonstrates a triable issue, they are entitled to unconditional leave to defend the suit. The Court allowed the appeal, setting aside the trial court's condition requiring a bank guarantee of Rs. 60 lacs for the appellant to defend the suit, and directed the trial court to resolve the suit within one year of receiving this order.