The loss-making shipbuilder said unnamed institutions had charged it INR 1.32bn ($21.2m) for INR 8.5bn of customers' bank guarantees "without following due process of law."
It has filed a case in the city civil court in Mumbai.
The troubled yard also released its first quarter results to 30 June last year.
It posted a net loss of INR 1.8bn ($28.92m) against INR 1.44bn