Bombay High Court Allows Appeal Against Ad-Interim Order Restraining Invocation of Performance Bank Guarantee — Directs Bank to Pay Proceeds to Beneficiary Without Third-Party Deposit Condition. The court held that a bank guarantee is an independent contract and cannot be restrained except in cases of fraud or irretrievable injustice; directing deposit in a third-party account is impermissible.
20 Jun 2016The present appeal was filed by Larsen & Toubro Limited (L&T), the original plaintiff, challenging an ad-interim order passed by a learned Single Judg...




