Supreme Court Hears Appeal Against Division Bench Order Upholding Direction to Refund Encashed Bank Guarantees Under Section 9 of Arbitration and Conciliation Act, 1996. The Court Examines Whether Without Adjudicated Claim, the High Court Could Direct Return of Amount Realized by Encashing Bank Guarantees Despite Absence of Counter-Claim.
1 Jan 1970The dispute arises from a Memorandum of Understanding dated 16.08.2002 between the appellant, National Projects Construction Corporation Ltd., and the...
