Bombay High Court Allows Appeal by Co-operative Sugar Factory in Suit for Enforcement of Bank Guarantee, Holding Document Executed by Bank is a Contract of Guarantee under Section 126 of Indian Contract Act, 1872. Bank's Liability was Unconditional and Payable on Demand, Irrespective of Disputes Between Principal Parties, and Suit not Bad for Non-Joinder of Principal Debtor.
2 Aug 2005The dispute arose from a turnkey contract for erection of a paper plant between Mula Sahakari Sakhar Karkhana Ltd., a co-operative sugar factory, and ...




