furnish bank
guarantees in favour of the appellant. Out of the above six,
only four bank guarantees were furnished including bank
guarantee ... costomer.
The very purpose of giving such a
bank a bank guarantee would
othrwise be defeated. The courts
should, therefore, be slow in
granting
Punjab National
Bank, Calcutta, submitted a letter of intent before the Registrar, High Court,
Original Side, Calcutta regarding furnishing of the bank guarantee on behalf ... suit is not maintainable. On 17.5.2000, the Punjab National Bank
furnished the bank guarantee binding itself and the defendants for the
payment of the amount
buyer within
seven days of the receipt of an acceptable performance Bank
Guarantee. (f) The performance Bank guarantee (PBG) was to
be by any Indian ... 24th October, 1989, itself the
appellant did furnish a performance bank guarantee for $
29,28,000 and upon bank guarantee being furnished, the
Government
about 25th of June, 1983 two bank guarantees were
executed by Bank of India, Ghaziabad and the bank guarantee
1132
numbered ]7/16 provided,inter ... whose
favour guarantee was given and the party on whose behalf
guarantee was given," and the guarantee also stipulated that
the bank should forthwith
payment in terms of a Letter of Credit or a Bank
Guarantee.
10. The law relating to grant or refusal to grant
injunction ... Bank Guarantees or Letters of Credit.
(v) Fraud of an egregious nature which
would vitiate the very foundation of such a
Bank Guarantee or Letter
required to
furnish to the appellant five bank guarantees as specified
therein. These were:
1. A bank guarantee for timely delivery of plant and
machinery ... invoked the delivery guarantee for Rs.89
lacs. The bank guarantees so invoked are: Bank guarantee
no.9/47 dated 10.8.89 for Rs. 89 lacs
renew the guarantee referred to in sub-section (3), or fails to furnish a new guarantee from a scheduled bank for an equal amount, fifteen ... Bank of India or the State Bank of India or of its subsidiaries or any bank as may be appointed by the Reserve Bank
irrevocable.
(b) The bank guarantee should be from any scheduled
bank.
(c) The bank guarantee should be payable at the local
branch of the issuing ... bank
guarantees that is compatible with the guidelines of banks and
the Reserve Bank of India. One such requirement is that the
bank guarantee should
Company furnished Bank Guarantees for Rs.29.29 crores in favour of
KPCL through its bankers, State Bank of India (“SBI”), the Respondent ... favour of SBI-the
banker of Indo Unique.
The Bank Guarantee was extended from time to time, and was last
extended on 10.11.2017.
1.4 Under
bank guarantees were furnished on different dates as and
when security deposits were released by HSCL. By these bank
guarantees, except bank guarantee ... bank,
as the transaction between the bank and the beneficiary is
independent and of a different nature. In case of an
unconditional bank guarantee
