Authority: Supreme Court of India, Bench of Justice K.V. Viswanathan and Justice Shree Chandrashekhar (Partial Court Working Days Bench)
Order Date: 03 July 2026
Case Overview
- Petitioner: Kundan Gold Mines Private Limited; Respondents: State of Madhya Pradesh & another.
- The dispute arises from a Letter of Intent (LOI) dated 21 March 2023, requiring the petitioner to fulfil stipulated conditionalities within one year, i.e., by 20 March 2024, with a clause allowing extension at the State’s discretion.
- The petitioner effected a name change on 1 June 2023, submitted the required Scheme of Prospecting on 23 August 2023, and the name change was recorded by the concerned authority on 27 October 2023.
- An application for extension of the compliance period was filed on 8 March 2024; no response was received from the State.
- Consequently, the petitioner filed a writ petition on 30 January 2025; the State issued a cancellation order on 22 April 2025.
- The petitioner contended that it had complied with all obligations within its control and that the State bore a duty to consider the extension request.
Final Outcome
- The Court ordered that the status‑quo as of the hearing date be maintained.
- An injunction was imposed restraining the encashment of the bank guarantee issued by the petitioner.
- The Court issued a notice to the respondents, returnable on 7 September 2026.
- The matter was listed for further hearing on 7 September 2026.
Topics: Legal Injunction, Bank Guarantee, Extension of LOI Compliance