Search Results for "bank guarantee encashment"

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Search Results for "bank guarantee encashment"

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High Court

High Court of Bombay Restrains Invocation of Bank Guarantee in Contract Dispute Due to Disputed Claims and Absence of Clear Forfeiture Clause. The court held that an unconditional bank guarantee can be restrained only in cases of fraud or irretrievable injustice, but where the guarantee is not encashed and the dispute is pending, interim protection can be granted to maintain status quo.

5 Nov 2020

The petitioner, M/s. Cipel, a construction company, filed a writ petition under Article 226 of the Constitution of India before the High Court of Judi...

High Court

Bombay High Court Allows Petition to Refer Dispute to Arbitration in Bank Guarantee Case — Arbitration Agreement Survives Despite Non-Signature of Work Order. The court held that an arbitration agreement need not be signed if there is sufficient evidence of mutual acceptance, and the work order was acted upon by both parties.

30 Sep 2020

The petitioner, M/s Indo Unique Flame Ltd., filed a writ petition challenging the order dated 18th January 2018 passed by the Commercial Court, Nagpur...

High Court

High Court of Bombay Allows Encashment of Bank Guarantee in Winding Up Proceedings — Security Deposit Refund Ordered. Court held that failure to finalize leave and license agreement within extended period entitled applicant to refund of security deposit, and bank guarantee furnished pursuant to consent order could be encashed upon expiry.

2 Jan 2020

The applicant, Palladian Hotels Private Limited, filed a company application seeking an order to encash a bank guarantee of Rs.38,53,000/- furnished b...

Supreme Court

Supreme Court Allows Appeal by Pollution Control Board in Bank Guarantee Invocation Case. Principles of Natural Justice Not Required Prior to Invocation of Bank Guarantees Furnished to Secure Compliance with Environmental Norms Under Water (Prevention and Control of Pollution) Act, 1974 and Environment (Protection) Rules, 1986.

22 Jul 2019

The Supreme Court allowed the appeal filed by the Andhra Pradesh Pollution Control Board against the judgment of the National Green Tribunal (NGT) dat...

High Court

Bombay High Court Dismisses Appeal Against Rejection of Section 9 Petition Seeking Injunction on Bank Guarantee Invocation. Performance Bank Guarantee Invocation Upheld as No Fraud or Irretrievable Injustice Established Under Contract Clause 4.2.

24 Nov 2018

The appellant, Tata Projects Limited, was awarded a turnkey contract by respondent No.1, Hazel International FZE, for constructing a Chemical Storage ...

High Court

Bombay High Court Dismisses Execution Application for Interest on Arbitral Award During Pendency of Challenge — Bank Guarantee Furnished Under Supreme Court Order Constitutes Payment into Court Under Order 21 Rule 1 CPC

1 Mar 2017

The case involves an execution application filed by Bhadani Associates (the claimant/decree-holder) seeking to enforce an arbitral award dated 16th Ja...

High Court

Bombay High Court Restrains Encashment of Bank Guarantee in Arbitration Dispute Between Contractor and Sub-Contractor. Court finds that invocation of bank guarantee was fraudulent and would cause irretrievable injustice to the petitioner.

5 Jan 2015

The petitioner, Simplex Infrastructure Limited, a civil and structural construction company, entered into a sub-contract with respondent No. 1, Siemen...

High Court

Bombay High Court Dismisses Subcontractor's Petition to Restrain Invocation of Performance Bank Guarantee Under Section 9 of Arbitration Act. Bank Guarantee Held to Be an Independent Contract Between Bank and Beneficiary, Not Subject to Injunction Absent Fraud or Irreparable Injustice.

4 May 2012

The petitioner, Karam Chand Thapar & Bros. (Coal Sales) Ltd., a subcontractor, filed a petition under Section 9 of the Arbitration and Conciliation Ac...

High Court

Bombay High Court Allows Arbitration Reference in Bank Guarantee Dispute — Dealership Agreement Contains Valid Arbitration Clause. The court held that the trial court erred in rejecting the Section 8 application by examining the scope of the arbitration clause, as the bank guarantee was a security under the dealership agreement and the dispute was covered by the arbitration agreement.

11 Apr 2011

The petitioner, Escorts Limited (defendant No.1), filed a Civil Revision Application challenging the order of the 3rd Joint C.J.S.D., Aurangabad, date...

High Court

Bombay High Court Allows Writ Petition Challenging Injunction Against Bank Guarantee Encashment — Appellate Court's Order Set Aside for Failure to Establish Fraud or Special Equities. The court held that an injunction against bank guarantee can only be granted in exceptional circumstances of fraud or special equities, and the appellate court erred in granting such relief without proper findings.

23 Jun 2005

The petitioner, Man Industries India Ltd., challenged the order of the 6th Adhoc Additional District Judge, Pune, in Miscellaneous Appeal No.150 of 20...

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