(Per : HONOURABLE THE ACTING CHIEF JUSTICE MR. M.S.SHAH) This appeal under Clause 15 of the Letters Patent is directed against the order dated 16th May, 2008 passed by the learned Single Judge in so far as the learned Single Judge has passed interim order directing the appellant ý State Trading Corporation of India to return the entire amount of Rs.300 lakhs to the respondent No.2 ý Punjab National Bank, which the appellant had obtained by invoking the bank guarantees given by the respondent No.1 (original petitioner) in favour of the appellant ý State Trading Corporation of India in 2006. The learned Single Judge further directed the respondent No.2 - Bank to keep the amount with itself and to see that the amount earns interest at the maximum rate available to any private depositor.
2. After the matter being heard for some time, Shri S.M.Shah, learned counsel for the respondent No.2 (original petitioner) has submitted that the petition is already admitted and fixed for final hearing and the original petitioner has no objection if the interim order dated 16th May, 2008 passed by the learned Single Judge is set aside so that the petition can be finally heard by the learned Single Judge without any pendency of the present appeal against the interim order.
3. Shri R.K.Anand, learned Senior Counsel with Shri M.R.Bhatt for the appellant ý State Trading Corporation of India could have no objection if this course of action is being adopted so long as the interim order passed by the learned Single Judge on 16th May, 2008 does not survive.
4. In view of the above, we allow this appeal and set aside the interim order dated 16th May, 2008 without disturbing the order of the learned Single Judge issuing Rule on the petition.
5. Appeal is accordingly allowed in the aforesaid terms.
6. It is clarified that concession given by the learned Counsel for the respondent No.1 ý original petitioner is without prejudice to the rights and contentions of the original petitioner which may be raised at the time of final hearing of the petition and at the final hearing of the petition, the learned Single Judge will be at liberty to decide the petition in accordance with law without being influenced by this order.
7. Since the Letters Patent Appeal is allowed, consequently, Civil Applications for stay and production of additional evidence respectively also stand disposed of.
( M.S.SHAH, Actg.C. J. ) (D.H.WAGHELA, J. ) kailash