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G.S.Developers & Contractors Private ... vs Alpha G. Group Development Private Ltd & ... on 19 February, 2016 cites

National Highways Authority Of India vs Elsamex-Tws-Snc Joint Venture on 28 April, 2008

15. The aforesaid grounds of challenge, are primarily based on the statement of the petitioner that from the perusal of the language of the bank guarantees and the letter of invoking bank guarantees, it is a case of egregious fraud and of special equities. I am afraid, that the language of the bank guarantees and the letter invoking bank guarantees surely, does not make out a case of special equities or egregious fraud. On a perusal of the pleadings, no case of fraud has been made out. The only ground being, the bank guarantees could only be invoked upon termination or when an amount is due, or the amounts being set off, would not make a case of fraud of egregious nature as to vitiate the underlying transaction. The ground that encashment of bank guarantees would cause irreparable injury, suffice to state, that the parties are before the Arbitral Tribunal and the amount has been directed to be deposited in an escrow account. So the said ground is unsustainable. I note for benefit, the reliance placed by ARB. A. (COMM) 07/2016 Page 15 of 17 Mr. Sethi on the judgment of this Court in National Highways Authority of India (supra), wherein this Court has held plea of lack of good faith and/or enforcing the guarantee with an oblique purpose or that the bank guarantee is being invoked as a bargaining chip, a deterrent or in an abusive manner are all irrelevant, hence have to be ignored.
Delhi High Court Cites 22 - Cited by 12 - P Nandrajog - Full Document

U.P. Co-Operative Federation Ltd vs Singh Consultants & Engineers (P) Ltd on 19 November, 1987

In U.P Cooperative Federation vs. Singh Consultants & Engineers Pvt. Ltd (1988) 1 SCC 174, the respondent therein entered into an agreement with the appellant for constructing a vanaspati manufacturing plant for the latter. The contract required the respondent to furnish two bank guarantees for proper construction and successful completion of the plant. Bank of India executed two bank ARB. A. (COMM) 07/2016 Page 7 of 17 guarantees in favour of the appellant. Under the terms of guarantee the bank undertook to make unconditional payments on demand without reference to the respondent. The guarantees also provided that the appellant would be the sole judge for deciding whether the respondent had fulfilled the terms of the contract or not. Disputes arose between the parties as to the erection and performance of the plant. The seller approached the civil court seeking injunction restraining the purchaser from invoking the bank guarantee. The High Court, proceeding on the basis that the injunction was sought not against the bank but against the appellant, restrained the appellant from invoking the bank guarantee. The Supreme Court after elaborate consideration of the matter held:
Supreme Court of India Cites 11 - Cited by 469 - G L Oza - Full Document

Hindustan Construction Co. Ltd vs State Of Bihar And Ors on 8 October, 1999

Insofar as the judgments relied upon by Mr. Chandhiok, are concerned, insofar as the judgment in Hindustan Construction Co. Ltd vs. State of Bihar(supra), the same is in the peculiar facts of that case keeping in view the terms of guarantee as noted by the Supreme Court in paras 12 and 13 of the judgment and would be of no help to the petitioner.
Supreme Court of India Cites 11 - Cited by 245 - S S Ahmad - Full Document
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