Search Results for "Discharge of surety"

3 result(s) found

Scroll Down To Discover

Found 3 result(s)

© Image Copyrights Juris Services & Technology

Bombay High Court Allows SICOM Petition to Enforce Guarantee Liability Under State Financial Corporations Act, 1951. Guarantors' Defense of Discharge Due to Variation in Contract Rejected as Guarantees Were Continuing and No Material Alteration Occurred.

The petition was filed by SICOM Ltd., a State Financial Corporation, under Sections 31(1)(aa) and 32 of the State Financial Corporations Act, 1951, se...

© Image Copyrights Juris Services & Technology

Bombay High Court at Goa Allows Writ Petition by Bank Against Co-operative Tribunal Order Discharging Sureties — No Variance of Contract or Loss of Security Under Indian Contract Act, 1872. Adjustment of Compensation from Defective Vehicle Towards Loan Does Not Discharge Sureties.

The petitioner, The Goa Urban Co-operative Bank Ltd., advanced two loans totaling Rs.3,47,000 to respondent no.4 (principal borrower) for purchasing a...