1. The defendant no. 2 has filed the present application being G.A. No. 2
of 2023 praying for revocation of leave granted for dispensation of
requirement of Section 12A of the Commercial Courts Act, 2015 and for
rejection of plaint.
2. Mr. Debraj Sahu, Learned Advocate representing the defendant no.2
submits that solely on the basis of the averments made in paragraph
75 of the plaint, the plaintiffs have obtained leave for dispensation of
the provisions of Section 12A of the Commercial Courts Act, 2015. He
submits that the plaintiffs have prayed for dispensation on the ground
that mediation or settlement in the matter had failed and there was no
further scope for mediation and that the defendant no.1 had already
terminated the agreement and invoked the bank guarantee and
received payment of the same and there is no scope for mediation/
settlement. He further submits that the plaintiffs also alleged that there
are several insolvency cases and proceedings have been filed by various
parties against the defendant no.2.