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M/S. Global Steel Philippines ... vs Stc Of India Ltd. & Ors. on 8 May, 2009 cites

State Trading Corpn.Of India Ltd vs Jainsons Clothing Corpn on 14 September, 1994

The High Court was also in error in considering the question of balance of convenience. In law relating to bank guarantees, a party seeking injunction from encashing of bank guarantee by the suppliers has to show prima facie case of established fraud and an irretrievable injury. Irretrievable injury is of the nature as noticed in the case of Itek Corporation (supra). Here there is no such problem. Once the plaintiff is able to establish fraud against the suppliers or suppliers-cum-lenders and obtains any decree for damages or dimunition in price, there is no problem for affecting recoveries in a friendly country where the bankers and the suppliers are located. Nothing has been pointed out to show that the decree passed by the Indian courts could not be executable in Sweden.
Supreme Court of India Cites 7 - Cited by 54 - K Ramaswamy - Full Document

Dai-Ichi Karkaria Private Ltd., Bombay vs Oil & Natural Gas Commission Bombay And ... on 29 January, 1991

47. The learned counsel for the plaintiff has referred to the several judgments including the judgment passed by the Court of Appeal in the case of Bolivinter Oil SA Vs. Chase Manhattan Bank and others as well as the decisions reported in the case of Dai-ichi Karkaria Private Ltd vs. Oil and Natural Gas Commission, Bombay and another, AIR 1992 Bombay 309 and Dwarka Das & Co. vs.Dhaluram Goganmull, AIR 1951 Calcutta 10 (Full Bench). The said decisions are not applicable in the facts of the present case as the plaintiff in the present case has failed to make out a case of fraud of egregious nature which is an essential condition for obtaining an injunction against the payment of letter of credit.
Bombay High Court Cites 17 - Cited by 9 - Full Document
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