Jindal Steel & Power Ltd. & Anr. vs. Bansal Infra Projects (P) Ltd. & Ors. (SC)

Code of Civil Procedure, 1908–Order 39, Rule 3–Arbitration & Conciliation Act, 1996–Sec. 9–Application for granting the ex-parte injunction in the proceedings u/s. 9–Rejection of–In appeal, High Court granted an order of status quo with regard to encashment of bank guarantee–Observation of High Court that if the appellants were permitted to invoke the bank guarantee, the prayer made in the Sec. 9 of arbitration petition would likely become infruct-uous–It was directed that the interim order shall remain in force until the disposal of arbitration petition–Order passed by the High Court is merely an interim measure intended to protect the interest of both parties–Interference declined.