Bank Guarantee Archives

Court cannot interfere with the enforcement of a bank guarantee except cases where fraud or special equity is prima facie made out so as to prevent irretrievable injustice: Delhi High Court

A Single Judge Bench of Chandra Dhari Singh, J. disposed of the petition and restrained from invoking/encashing the bank guarantee.

Case Briefs High Courts

Allahabad High Court reiterates law on interdicting unconditional bank guarantee; Sets aside interim injunction order passed by Commercial Court

Fraud, as an exception to the rule of non-interference with encashment of bank guarantees, is not any fraud, but a fraud of an egregious nature, going to the root i.e., to the foundation of the bank guarantee and an established fraud. The entire case of the respondent fails to qualify for this.

Case Briefs Supreme Court

Explained| Commercial Court’s power while dealing with an application under Section 9 of the Arbitration and Conciliation Act, 1996

Supreme Court: The bench of MR Shah* and Krishna Murari, JJ has explained the scope of powers of a Commercial Court while

Case Briefs High Courts

Bank Guarantee: Can these be encashed during their validity period? Read Del HC’s opinion on furnishing of bank guarantees

Delhi High Court: The Division Bench of Manmohan and Navin Chawla, JJ. while addressing a matter expressed that no judicial finding is

Case Briefs Supreme Court

SC | Is there a scope for interference in case of encashment of bank guarantee? Read on

Supreme Court: The Division Bench of Sanjay Kishan Kaul and Hemant Gupta, JJ., while addressing the present matter, remarked that: Fate of

Case Briefs High Courts

Del HC | Does Exception 3 to S. 28 of Contract Act deal with claim period within which beneficiary is entitled to lodge claim? Court discusses

Delhi High Court: Jayant Nath, J., held that, Exception 3 to Section 28 of the Contract Act deals with curtailment of the

Op Eds OP. ED.

Encashment of bank guarantee and relevance of moratorium Bharat Aluminium Co. Ltd. v. J.P. Engineers (P) Ltd.: A Case Comment

by Sriharsh Raj±

Case Briefs Tribunals/Commissions/Regulatory Bodies

CESTAT | Condition of bank guarantee found exorbitant; Tribunal allows appeal reducing amount of the bank guarantee

Customs, Excise and Services Tax Appellate Tribunal (CESTAT): The Coram of Ramesh Nair (Judicial Member) and Raju (Technical Member) allowed an appeal

Hot Off The Press News

CBIC | Detection of evasion of customs duty by exporter on export of Iron Ore Fines; recovery of customs duty more than Rs 8 Crore

On the basis of specific intelligence, under the direction of the Commissioner of Customs (Preventive), Bhubaneswar Shri Debashish Sahu, investigation was initiated

Case Briefs High Courts

Ori HC | Executive instruction cannot supersede or override statutory provision; Impugned order being an executive instruction has to yield to R. 51 of Odisha Excise Rules

Orissa High Court: A Division Bench of Mohammad Rafiq, CJ and K.R. Mohapatra, J. set aside the impugned order being ultra vires

Case Briefs High Courts

Ker HC | A party to contract cannot unilaterally quantify liability and proceed for recovery from the other side

Kerala High Court: Anu Sivaram, J. allowed the Writ Petition by directing the respondent to only decide the amount of liability after

Case Briefs Tribunals/Commissions/Regulatory Bodies

APTEL | Bonafide delay can be condoned; Tribunal condones delay of 148 days while allowing the appeal

Appellate Tribunal for Electricity (APTEL): A Coram of Justice Manjula Chellur (Chairperson) and S.D. Dubey, (Technical Member) allowed an appeal filed against

Case Briefs High Courts

Ker HC | Vehicles and goods detained due to expiry of e-way bills can be released on furnishing of bank guarantee for tax and penalty due

Kerala High Court: Raja Vijayaraghavan V, J. allowed a civil writ petition filed by a company and directed release of its vehicles

Case Briefs High Courts

Del HC | Levy of commission on unexpired term of bank guarantee held unsustainable where petitioner not informed about pre-payment charges

Delhi High Court: Vibhu Bhakru, J. allowed a writ petition filed against the action of Andhra Bank in debiting a sum of Rs

Case Briefs High Courts

Ker HC | GST: No encashment of bank guarantee in a tax evasion case until the statutory appeal in that regard is considered by Court

Kerala High Court: The Bench of Dama Seshadri Naidu, J. granted a stay on encashment of bank guarantee by tax authorities until

Case Briefs High Courts

Bank Guarantees are separate contracts not bound any other contractual relations between parties

Delhi High Court: A Division Bench comprising of Ravindra Bhat and A.K. Chawla, JJ., dismissed a First Appeal against an order declining

Case Briefs Supreme Court

1997 Amendment to Section 28 of Contract Act, 1872 applicable prospectively

Supreme Court: Dealing with an interesting question as to the retrospective applicability of the 1997 Amendment to Section 28 of the Contract

Case Briefs High Courts

Invocation of bank guarantee can be restrained only if there is existence of fraud, irretrievable injury/injustice or special equities

Delhi High Court: While deciding a crucial matter relating to work contracts and bank guarantee the Division Bench comprising of Sanjeev Sachdeva