statement of the third defendant and submitted that there is no specific guarantee in so far as the transaction under the LAM pledge account ... there is a specific agreement. Therefore, I hold that in view of the specific clause in the deed of guarantee, even if we hold that
employee, and secondly, the
personal guarantee of the surety. The surety himself agreed
to give personal guarantee of the specific understanding and
with the full ... employee, and secondly, the
personal guarantee of the surety. The surety himself agreed
to give personal guarantee on the specific understanding and
with the full
Learned
counsel for the appellant would contend that Bank guarantee was given
for the specific MOU dated 13.4.2005. He submitted that SEIPL had
entered into ... basis of the said document Bank
Guarantee was given with the specific condition that the Bank
Guarantee for margin money can be encashed only
could be waived by a specific agreement in the deed of guarantee; that as a matter of fact, such an agreement would amount to consent
Counsel for the third-respondent, that the guarantee bonds were not supported by consideration, therefore, the guarantee bonds are invaiid and are not enforceable ... that there was a specific understanding between the plaintiff and himself, that unless the other Directors - Guarantors execute the guarantee bonds, the guarantee bonds will
injunction is a discretionary power in equity jurisdiction. The contract of guarantee is a trilateral contract which the bank has undertaken to unconditionally and unequivocally ... bank guarantee and the court should not interfere with the enforcement of the contract of guarantee unless there is a specific plea of fraud
credit of 45 days for which a bank guarantee was given by the plaintiff. The bank guarantee was only a pre- requisite for doing ... only for the purpose of availing credit facilities. The guarantee categorically stipulates that bank guarantee is executed on carrier (defendant No. 1) agreeing to supply
supervision of the Bank and (2) personal guarantee of the surety. The pledge and the personal guarantee were not two independent transactions but they formed ... composite transaction. The surety himself agreed to give personal guarantee on the specific understanding and with the full knowledge of the Bank that the principal
respect of a bank guarantee or letter of credit. He respectfully submits that, in spite of specific instances adverted to by plaintiff to show that ... hence they cannot invoke the bank guarantee. In paragraphs 6 and 7 of the plaint, the specific instances, relating to the alleged fraud, are placed
defendant No. 2. In the light of this specific clause contained in the letter of guarantee, excluding the application of Section 135 of the Contract ... Section 133 of the Act could be waived by specific agreement in the deed of guarantee. Such an agreement would amount to consent within
