A caveat application serves two purposes, firstly it provides an opportunity for such opposite parties who should be heard before an ex parte order is made and show cause as to why it should not be passed and secondly to avoid multiplicity of proceedings.
Courts have held that application must be substantive and the person who may be affected by an order that may be passed on such application can file the caveat for the purpose of opposing the application . The caveator for that purpose has to explain and specify the nature of the application which is expected to be made or has been made & also explain how, if passed, such order will affect him. He also has to appear in the court to hear such application.
In general practice, the caveat petition is framed in such a manner that it sufficiently serves the purpose and hence multiple caveats need not be filed.
A caveat remains in force 90 days after it has been lodged according to Section 148 A (5) of Civil procedure Code. There is no bar as to number of caveats which can be filed for a particular issue under the law. One can file consecutive caveats for a particular issue, for e.g – In as case, where the caveator has filed a caveat application where he has pleaded not to grant injunction to the opposite party, in such case the caveator can again file caveat petition for the same issue before the expiry of the 90 days (may be on 85th day). In this way the opposite party will not be able to get an interim injunction order for 90+90 days.With regard to your illustration given in the question, since the court has dismissed the objection of the opposite party on the grounds that he did not appear for the hearing, the initial caveat application remains valid and there is no need to file a new application for the same. Dismissal of objection of the opposite party doesn’t mean dismissal of the caveat application; it will remain intact until the expiry of 90 days from the date of lodging such application.