JIYAJEERAO COTTON MILLS LIMITED AND ANOTHER v. MADHYA PRADESH ELECTRICITY BOARD AND OTHERS

A that the appellant had paid any amount in excess of the total liability, the Board shall repay such excess amount with interest at the rate of 12% per annum. By a subsequent order dated 23.4.1984 the appellant was required to pay a sum of Rs.1,28,00,000 to the Board by the 10th of May, 1984 and to keep the bank guarantee alive till the final dis- posal of these appeals as condition for continuance of the interim B prder. During the hearing of the appeal a grievance was made on behalf of the respondent Board that the bank guarantee had not been effectively renewed and the learned counsel for the appellant under- took on behalf of the Company to correct the defect. Subsequently it was stated at the Bar that proper bank guarantee had been furnished in accordance with the Court's direction. In view of our present decision c the respondent Board, besides being entitled to retain the amount already paid to it in pursuance of this Court's direction, is further entitled to enforce the bank guarantee. The appellant Company, ,therefore, must arrange to make the payment withount delay, failing 1which the Board shall be entitled to take steps for enforcement of the bank guarantee. The dispute regarding the appellant's claim to receive D emergency supply is pending before the High Court. The appellant shall be entitled to adjustment in the light of the final decision on this point.

38Copy pinpoint38. In the result, the appeals fail and are dismissed with costs payable to the respondent No. 1.

.R.S.S. Appeals dismissed .