bank guarantee, specifying as to when the bank guarantee should be
invoked by the benefciary, does not make the bank guarantee conditional or
contingent ... Bank Guarantee as to when the benefciary / Mahtanis can
proceed to invoke the Suit Bank Guarantee, cannot make the Suit Bank Guarantee
conditional and render
guarantee. If the terms of the bank
guarantee be unconditional, the bank has to pay
without demur. The payment of bank guarantee
cannot be made ... bank guarantee while directing the bank to
encash the same are not averred in the memo directing
encashment of bank guarantee, whereas the bank guarantee
clear that the bank refused to invoke the
bank guarantee on the ground that the bank guarantee is a conditional one. The
appellant ... bank ought to have
honoured the invocation of the bank guarantee. In respect of the bank guarantee
given by the Canara Bank, it was also
bank guarantee is unconditional and irrevocable bank guarantee and if the said bank guarantee refers to underlying contract, then the clauses in the bank guarantee ... bank guarantee was termed as unconditional and irrevocable bank guarantee, the said bank guarantee cannot be said to be unconditional bank guarantee. The relevant portion
make it conditional
bank guarantee and it remains an unconditional bank guarantee. It is further
submitted that the impugned bank guarantee is different than ... within its right to invoke the bank guarantee. I have perused the bank
guarantee. The bank guarantee clearly stipulates "....in the event
Company within
the validity of this Bank Guarantee.
19. In the unamended bank guarantee the bank affirmed
that they are guarantors and responsible on behalf ... that the bank
guarantee furnished was not an unconditional one. Clause 9
in the bank guarantee refers to the terms and conditions of
the contract
issued a Taking Over Certificate in
accordance with Clause 10 of the Conditions of Contract.
5. The Contract appointed SYSTRA MVA Consulting (India ... Four Advance Bank Guarantees, for a total value of
approximately ₹ 38.06 crores, and one Performance Bank Guarantee,
for ₹ 23.55 crores, were furnished by the petitioner
bank, invoked the
earnest money bank guarantee of Rs 50 crores.
It is the case of the plaintiff that earnest money bank
guarantee is conditional ... bank guarantee, the invocation
was not in terms of bank guarantee and injunction at instance of
party who had furnished the bank guarantee should follow
advance/down payment,
bank guarantee and performance bank guarantee. As stipulated, FGIPL issued the
Down Payment Bank Guarantee and Performance Bank Guarantee in favour ... specified in the bank guarantee itself. Clause 2 of the bank
guarantee in the said case provided that the bank guarantee was payable on demand
bank guarantee has led me through a few lines of the said bank guarantee from the first page which are above the terms and conditions ... contract itself that bank guarantee furnished by the bank would be an unconditional one and from a Nationalised bank. Thus the conditions, if any, were
