Strategic to issue a Standby Letter of
Credit (in short 'the SBLC') for a sum of ₹540 crores in favour of Religare ... around 22nd October, 2015 Religare informed Strategic that it would
invoke the SBLC on account of default in payment of the balance purchase
consideration
Standby Letter of Credit charges (SBLC) to M/s. Shalini Properties & Developers Limited
was allowable due to commercial expediency; whereas, the CIT(Appeals ... that the payment of
Rs.11,75,82,702/- as stand by SBLC to M/s. Shalini Properties & Developers Limited
was allowable
obtaining
such brand name by the appellant company and the payment of SBLC charges to
Shalini Properties & Developers P. Ltd is the entire issue ... Dunlop India Ltd and the appellant would
be obliged to bear the SBLC charges to be paid to M/s Shalini Properties & Developers
Patiala who had
issued the standby letter of credit (in short SBLC) in favour of plaintiff
bank and defendant no. 3 was the seller ... goods to defendant no.2 who
was the buyer. This SBLC was issued at the instance of defendant no.2 and
which was also extended
from the MMTC Limited, Chennai either on outright basis or under LC/SBLC basis.
13. The entire dispute is arisen out of this contract under ... Usance Letter of Credit (Usance L.C)/ Stand by Letter of Credit
(SBLC)
28. The petitioner N.P.Agarwal
from the MMTC Limited, Chennai either on outright basis or under LC/SBLC basis.
13. The entire dispute is arisen out of this contract under ... Usance Letter of Credit (Usance L.C)/ Stand by Letter of Credit
(SBLC)
28. The petitioner N.P.Agarwal
recommended loan of Rs 50 cr
and vide lr no 572 recommended SBLC of
Rs 100 cr.
(ii) CO conveyed sanction of all 3 loans
recommended loan of Rs 50 cr
and vide lr no 572 recommended SBLC of
Rs 100 cr.
(ii) CO conveyed sanction of all 3 loans
Clause 5 of the Mandate for Arranging Loan against MTN/BG/SBLC dated 27.6.2015.
For Petitioner : Mr.R.Palaniandavan
For Respondent : Mr.Anirudh Krishnan
