alleged misappropriation of funds by
Mahabaleshwara Patil.
6. It is the specific contention of the petitioners herein that
assuming that an indemnity bond was executed ... guarantors". It
is contended that in the absence of any specific guarantee to
make good any financial loss caused
guarantee. The combined effect of these two clauses is that the bank guarantee is furnished to cover the cost of paddy and the specific performance ... well as encashment of Bank Guarantee. The Bank Guarantee is secured to "cover the cost of paddy and specific performance of the contract
Judge insofar as the
contention that the appellants had executed specific
Deeds of Guarantee and all the appellants had not
executed any deed after ... could be
waived by specific agreement in a deed of guarantee,
and such an agreement would amount to consent
within the meaning of the provision
commission fee to get the bank guarantee and specific allegation
is made against the petitioner and other accused persons that all
3
of them conspired ... with each other and collected the money and
bank guarantee provided is fake bank guarantee.
4. The learned counsel for the petitioner would submit
that
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
could be waived by specific agreement in the deed of guarantee; that as a matter of fact, such an agreement would amount to consent within
Sanjat Suman Lenka vs Medical Council Of India on 6 January, 2017
Author: B.Veerappa
bank guarantee in the event of default of Pesticides".
24. In para 16, the Delhi High Court has to fulfill the performance guarantee ... India (1979) 83 Cal WN 807, the bank under the performance guarantee, undertook irrevocably and unconditionally, obligations without any contestation, demur, or protest
bank under the performance guarantee, undertook irrevocably and unconditionally, the obligation without any contestation, demur, or protest and/or without any reference to the manufacturer ... exporter and the manufacturer, to pay the sum of money under the guarantee, on first demand being made by the exporter."
49. Thus
