Department not justified in encashing bank guarantee & invoking continuity bonds before expiry of statutory appeal period of 60 days

FCI OEN Connectors Limited Vs Union of India (Karnataka High Court) The limited point that arises for consideration is, whether the respondents were justified in encashing the bank guarantee and invoking the continuity bonds before expiry of the statutory appeal period of 60 days from the date of the order dated 10.03.2021. As rightly contended by the learned counsel for the petitioner and as held by this Court in Oracle’s case (supra), invocation of the continuity bonds and encashment of the Bank guarantee by the respondents on 11.03.2021 and 16.03.2021, much before the expiry of the pe...