(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;
(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;
(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;
(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;
(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;
(iv) that Article 1 of the Bank Guarantee would require two conditions to be satisfied (i) that the Letter Of Invocation sets out the non-performance of the Delivery Obligation (Advance Guarantee) or the failure to perform/breach/violation of the Purchase Order (Performance Guarantee) (ii) that the statement in (i) above is true and borne out by the facts. Mr. Khambatta relied on the decision of this Court in Crest Communications Ltd. vs. State Bank of India 5 and submitted that the said decision indicates that both requirements have to be satisfied;