indirect,
for the proposed guarantee” and (ii) “in case of invocation of guarantee,
no liability whatsoever will extend to the Indian Company.”
9. During ... that no liability would be fastened upon the respondent
upon invocation of the guarantee, continued to govern the transaction.
The Division Bench observed that
maintainability so also scope regarding interference by the Court
regarding invocation of Bank Guarantee and are yet to file their Objection in
ARBP ... guarantee or the person on
whose behalf the guarantee was furnished. The terms of the bank guarantee are,
therefore, extremely material. Since the bank guarantee
required to furnish a bank guarantee for 10% of the contract price
as performance guarantee. On the bank guarantee being invoked
by the respondent ... agreement; the
bank guarantee, in respect of performance guarantee, was
furnished to the Chief Engineer; the said bank guarantee could be
invoked by none other
Guarantee or the person on
whose behalf the Guarantee was furnished. The terms of
the Bank Guarantee are, therefore, extremely material.
Since the Bank Guarantee ... guarantee or
the person on whose behalf the guarantee was furnished. The
terms of the bank guarantee are, therefore, extremely material.
Since the bank guarantee
Guarantee or the person on
whose behalf the Guarantee was furnished. The terms of
the Bank Guarantee are, therefore, extremely material.
Since the Bank Guarantee ... guarantee or
the person on whose behalf the guarantee was furnished. The
terms of the bank guarantee are, therefore, extremely material.
Since the bank guarantee
without affecting in any
manner the Bank's obligation under this Guarantee, from time to
time to:
(i) vary and/or modify ... also the case of the respondents that the invocation of bank
guarantee and its encashment cannot be injuncted merely because there
are disputes raised
contracts were cancelled / terminated way back on
September 05, 2007. The invocation of the BGs became subject matter
of a challenge by the appellant ... validity period? OPD-1
(2) Whether the bank guarantee has been invoked in terms
of bank guarantee? OPD-1 & 2.
(3) Whether this court
direct or indirect for the proposed guarantee;
(ii) In case of invocation of guarantee, no liability whatsoever
will extend to Indian Company ... indirect, for the proposed guarantee and (2) In case of invocation of
guarantee, no liability whatsoever will extend to the Indian Company;
pursuant to which
same was justified, it could
not have been held that invocation of bank guarantee was not lawful.
He submitted that the finding of the Arbitral ... will come into play. The Arbitral Tribunal rightly held
that invocation of bank guarantee was unlawful. The view taken
even the first tenet of meeting
the terms of the Bank Guarantee for invocation of bank
guarantee has also not been met. The Respondent ... Guarantee or the person on whose behalf the Guarantee
was furnished. The terms of the Bank Guarantee
are, therefore, extremely material. Since the Bank
Guarantee
