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Search Results for "performance bank guarantee"

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High Court

Bombay High Court Allows Withdrawal of Appeal and Release of Deposited Amount in Insolvency Case — Moratorium Under Section 14 IBC Bars Enforcement Against Corporate Debtor's Assets. The cash deposit made by the corporate debtor in court is an asset belonging to the corporate debtor, and the resolution professional is entitled to its release for the resolution process.

13 Nov 2024

The Bombay High Court allowed an application filed by the Resolution Professional of Siti Networks Ltd. (corporate debtor) seeking withdrawal of Appea...

High Court

Bombay High Court Dismisses Contempt Petition for Alleged Willful Disobedience of Interim Orders in Arbitration Dispute. Court holds that orders were not sufficiently clear and specific to warrant contempt proceedings, and the remedy lies in execution.

30 Jul 2019

The petitioner, Sri Sai Krishna Constructions, filed a contempt petition alleging willful disobedience of two orders passed by the Bombay High Court i...

High Court

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 2016

The present appeal was filed by Larsen & Toubro Limited (L&T), the original plaintiff, challenging an ad-interim order passed by a learned Single Judg...

High Court

High Court of Karnataka Partly Allows Defendant's Petition and Dismisses Plaintiff's Revision in Summary Suit — Conditional Leave to Defend Upheld but Deposit Reduced. Court held that while the trial court had discretion to impose conditions under Order 37 Rule 3(5) CPC, the condition of depositing 50% of the suit claim was disproportionate and reduced it to 25%.

10 Oct 2014

The case involves two petitions arising from an order dated 30.03.2013 passed by the XXVII Additional City Civil Judge, Bangalore, in O.S.No.8306/2012...

High Court

High Court of Karnataka Upholds Conditional Leave to Defend in Summary Suit Under Order 37 CPC — Deposit of 50% of Suit Claim with Interest Upheld as Reasonable Condition. Court holds that while granting leave to defend, the trial court must balance the interests of both parties and can impose conditions to secure the plaintiff's claim, but such conditions must not be arbitrary or excessive.

10 Oct 2014

The case involves two petitions arising from an order dated 30.03.2013 passed by the XXVII Additional City Civil Judge, Bangalore, in O.S.No.8306/2012...

High Court

Bombay High Court Dismisses Appeal by Videocon Industries Against Winding Up Order for Non-Payment of Guarantee Debt to Italian Bank. Patronage Letter Held to Be a Guarantee Under Indian Contract Act, 1872, and Claim Not Time-Barred.

19 Jul 2014

The case involves an appeal by Videocon Industries Limited against an order of the Company Judge directing payment of Rs.259.73 crores to Intesa Sanpa...

High Court

Bombay High Court Dismisses Petition Seeking Injunction Against Bank Guarantee Invocation in Contractual Dispute. Court holds that bank guarantee is an independent contract and injunction can only be granted in cases of fraud or irretrievable injustice, not on grounds of disputes regarding work completion.

10 Jan 2013

The petitioner, IVRCL Ltd., had entered into a contract with the respondent, IOT Utkal Energy Service Ltd., for which the petitioner furnished a bank ...

High Court

Bombay High Court Grants Interim Relief Under Section 9 of Arbitration Act in Contract Dispute Over Reduced Supply Quantity and Performance Bank Guarantee. Court Restrains Invocation of Bank Guarantee and Coercive Steps Pending Arbitration, Finding Prima Facie Case of Contract Variation and Force Majeure.

10 Feb 2012

The petitioner, Sanmit International FZE, filed a petition under Section 9 of the Arbitration and Conciliation Act, 1996, seeking interim relief again...

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 Dismisses Appeal Against Arbitral Tribunal's Interim Order in Charter Hire Dispute. Section 37 of the Arbitration and Conciliation Act, 1996 Does Not Provide for Appeal Against Interim Orders Under Section 17 of the Act.

15 Jul 2005

The case involves an appeal filed by Oil and Natural Gas Corporation Ltd. (ONGC) under Section 37 of the Arbitration and Conciliation Act, 1996, chall...

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