Search Results Page
Search Results
1 - 3 of 3 (0.19 seconds)Himadri Chemicals Industries Ltd vs Coal Tar Refining Company on 7 August, 2007
The Apex Court has held that there are two
exceptions when the Courts can grant an order of injunction
in favour of an aggrieved party in the matter of encashment
of Bank Guarantee or a Letter of Credit and those are at
::: Downloaded on - 09/06/2013 17:33:32 :::
29
Sr.Nos.(v) and (vi) above. Shri S.C.Mehadia, the learned
Counsel, submits that the Bank Guarantee furnished in
question, is an unconditional one and the existence of any
dispute between the parties to the contract, is not a ground
for issuing an order of injunction to restrain the enforcement
of a Bank Guarantees or Letters of Credit. According to him,
the Trial Court should not have even gone into the dispute in
respect of compliance of the conditions. He further submits
that there is no case made out, falling in any of two
exceptions, laid down by the Apex Court.
The Companies Act, 1956
1