Guarantee agreement, it is seen that -> The guarantee has
agreed to the said condition which states that -> The said
Guarantee is a continuing ... recital of Ex.D.1 guarantee agreement the guarantee given by
the plaintiff to the defendant bank is the continuing guarantee.
When such being
availed by defendant
No.1 and they have executed letter of Continuing
Guarantee in favour of the plaintiff-Bank. It is the case of
plaintiff ... defendant No.2 and 3 have
executed a letter of continuing guarantee in
favour of the plaintiff-Bank?
3. Whether the plaintiff-Bank is entitled
Page no. 16 of 30
by defendant no. 3 was a continuing guarantee till the time all
the liability under the loan agreement in question ... Guarantee dated 15.01.2003 herein below:
Clause 2. I/ we expressly declare that this
Guarantee shall be for the period before
mentioned a continuing guarantee
Further, the Surety/Guarantee offered by the 2nd Defendant is a
continuing guarantee and continues to exist, till the entire
dues/balance outstanding/over drawings ... Surety/Guarantee offered
by the 2nd Defendant is a continuing guarantee and continues
to exist, till the entire dues/balance outstanding/over drawings
are cleared
subsequently
secured in favour of the Appellant Bank by means of continuing guarantee by
the Directors of the Respondent Company, who are Respondent ... Bank. That decision concerns the
possibility of a guarantor revoking his continuing guarantee, with the
objective of escaping his liability. This is not the case
demand, of the Facilities guaranteed. This Guarantee shall also
be a continuing guarantee and shall not be considered as either wholly or
partially satisfied ... bankruptcy, insolvency or similar proceeding instituted by or
against Subsidiary, this Guarantee shall continue to be fully applicable to
such obligation to the same extent
Thiagarayanagar. On 16.01.1996, the 2nd respondent had executed a comprehensive continuing Guarantee and indemnity for the said loan availed by the respondents
guarantee document, KPT issued
further letter to the said bank on 27.3.2014 once
again invoking the bank guarantee in following terms:-
"In continuation ... encash the bank
guarantee. It is further observed and directed
that in the event the bank guarantee is
continued and the condition is complied with
liability depends on the terms of the
contract and that a „continuing guarantee‟ is different from an ordinary
guarantee. It has been emphasised that
stood guarantee with respect to the
.
loan advanced to defendant No.1 Company and consequently
executed deed of guarantee on 17.7.1998 guaranteeing repayment
of aforesaid ... several with defendant No.1 and it is a
rt
continuing guarantee provided by defendants No. 2 and 3 in
favour of the plaintiff Corporation
