High Court of Bombay Restrains Bank from Honoring Bank Guarantee Invocation After Completion of Contract — Invocation Held Invalid as Guarantee Ceased to Be Operative. The court held that the bank guarantee had ceased to be operative upon completion of the contract as certified by the Independent Engineer, and the beneficiary's invocation was not in terms of the guarantee.
12 Apr 2013The plaintiff, M/s. ABG Kandla Container Terminal Ltd., filed a suit seeking declarations that a bank guarantee had ceased to be operative and that th...
