Delhi HC Tells Distressed Rattan India To Give 10-Day Notice To BHEL Before Invoking Bank Guarantee [Read Order]

The Delhi High Court has directed Rattan India Nasik Power Ltd, formerly called Indiabulls Power, to give at least 10-day notice to Bharat Heavy Electrical Limited (BHEL) in case it intends to invoke or encash its bank guarantee of Rs 263 crore submitted by the latter under phase -I of the Nasik and Amravati Thermal Power Project.Justice Rajiv Shakdher passed the order after BHEL moved...