JUDGMENT 1. The matter comes up on an application under Article 226 of the Constitution of India read with Section 151 CPC seeking return of bank guarantees No. 0479118BG0000427, 0479118BG0000428 and 0479118BG0000429 aggregating to Rs. 11 crores in lieu of an undertaking, by the petitioner companys authorised person, before this court to pay the said amount of Rs. 11 crores to the respondent--Jaipur Vidyut Vitran Nigam Limited (JVVNL) immediately on the disposal of this writ petition by way of permitting without demur equivalent deductions by the JVVNL from the recurring amounts payable to the petitioner-company by the respondent-JVVNL under the Power Purchase Agreement dated 07.08.2007. 2. It has been submitted that the necessity of resorting to this alternate mechanism for safeguarding any amount that may be found due to the respondent-JVVNL following the adjudication of the petition lies in the fact that the petitioner-company has already expanded more than Rs. 63 lakhs and will continue to incur Rs. 1.19 lakhs per month as expenses for keeping the these bank guarantees in issue alive. 3. Mr. Sudhir Gupta Senior Counsel for the petitioner submitted that in an identical situation, the Punjab and Haryana High Court in Letters Patent Appeal No. 537/2017 titled Punjab State Power Corp Ltd. Versus Sasan Power Ltd & Others has allowed the substitution of the bank guarantee/s during the pendency of the LPA before it by an undertaking to allow appropriation of equivalent amounts by way of adjustment from the amounts due to the petitioner-company month to month by the Punjab State Power Corp Ltd also under the Power Purchase Agreement dated 07.08.2007. 4. Reply to the application has been filed. Therein it has been averred that in case if a similar undertaking as the one filed by the petitioner-company in Letters Patent Appeal No. 537/2017 is filed by it before this court the respondent-JVVNL would have no objection to returning the bank guarantee to the petitioner with a corresponding undertaking as offered and the right to adjust equivalent amounts from the amounts due month to month to the petitioner-company under the Power Purchase Agreement dated 07.08.2007. 5. The application is accordingly disposed of in terms of the admission of respondent-JVVNL. 6. Consequently, the respondent-JVVNL should return the these bank guarantees aggregating to Rs. 5. The application is accordingly disposed of in terms of the admission of respondent-JVVNL. 6. Consequently, the respondent-JVVNL should return the these bank guarantees aggregating to Rs. 11 crores to the petitioner- company or otherwise not encash them subject strictly to furnishing an undertaking before this court on or before 01.03.2019 identical to the one as submitted before the Punjab and Haryana High Court in DBCM No. 4889/2018.