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1 - 2 of 2 (0.22 seconds)Ircon International vs Hindustan Construction Co Ltd on 2 June, 2021
7. The practice directions in question were issued on 25.06.2021
pursuant to directions of this Court dated 02.06.2021 in
FAO(OS)(COMM) 173 and 174/2018 [Ircon International vs. Hindustan
Constructions Co. Ltd.]. It has been provided that, when a bank guarantee
is furnished by the party for release of amounts deposited in the Court, it
shall contain a term that the bank guarantee will be encashed by the bank
if it has not been renewed at least 10 days prior to its expiry, and the
amount will be remitted to the beneficiary.
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