NEW DELHI : The Delhi High Court on Tuesday dismissed an appeal filed by Hindustan Construction Co. Limited (HCC) against a single-judge bench order, seeking an injunction restraining National Hydro-Electric Power Corporation Limited from invoking or encashing any or all of its bank guarantees cumulatively worth ₹214.36 crore.
“In other words, encashment of the unconditional BGs will not result in irretrievable injury to the appellant/HCC requiring this Court to take a view different from the very well considered view taken by the learned Single Judge. The appeal is dismissed as being devoid of merit,” the judgment reads.
NHPC being a Public Sector Undertaking involved in the setting up of and execution of hydro-electric power projects in India, invited bids in 2006 from pre-qualified bidders for turnkey execution of the 330 MW hydro-electric power plant on the Kishanganga River in Bandipora, Jammu and Kashmir.
