Indian scheduled bank to cover the performance
obligations of the Supplier under this Contract
(the "Performance Guarantee') within [15]
(fifteen) Business Days ... this Contract. The Performance Guarantee shall
be valid till the Guarantee Period is completed
for all the Equipment. The Performance
Guarantee shall have an initial
work in respect of remaining two works and also
submitted performance guarantee within the time permitted/stipulated
in the LoA.
8. Further it is submitted ... impossibility of the
performance of the twin conditions in the LoA namely commencement
of work and furnishing of Performance Guarantee is far from
satisfactory. However
work in respect of remaining two works and also
submitted performance guarantee within the time permitted/stipulated
in the LoA.
8. Further it is submitted ... impossibility of the
performance of the twin conditions in the LoA namely commencement
of work and furnishing of Performance Guarantee is far from
satisfactory. However
guarantee refers to the
principal agreement without referring to any
specific clause in the preamble of the deed of
guarantee does not make the guarantee ... whose favour Bank Guarantee has been issued can be
restrained from encashing / invoking the Bank Guarantee when
such Bank Guarantee in their favour is unconditional
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 ... bank guarantee is an unconditional bank guarantee and placed reliance on
clause 1 and 8 of the Bank Guarantee for Contract Performance, which
read
guarantee, in so far as the security guarantee is concerned, the period of guarantee was only upto 30.9.1981 and In case of performance guarantee ... amount towards first guarantee i.e. security guarantee for Rs. 1,90,000/-, so far as second guarantee i.e. performance guarantee is concerned, looking
permanent injunction to restrain the respondents from realisation of the performance bank guarantee submitted by the claimant in pursuance of the contract between the parties ... That the seller had to establish an unconditional irrevocable performance guarantee in favor of the buyer by any Indian Nationalised Bank at New Delhi
contract was terminated by the respondents on 13.01.2017 and the
Performance Bank Guarantee was invoked. The appellant is aggrieved by the
rejection of the money ... contract which are as under: -
(i) Forfeit the performance guarantee in full under
clause 20(e) of the General Terms and Conditions
same to the plaintiffs. He submits that earnest money and
performance guarantee have been submitted at Allahabad Bank
now merged with Indian Bank at Kolkata ... plaintiffs at Kolkata
and the defendants have invoked the performance guarantee of
the plaintiffs from the Allahabad Bank now Indian Bank which
is within
same to the plaintiffs. He submits that earnest money and
performance guarantee have been submitted at Allahabad Bank
now merged with Indian Bank at Kolkata ... plaintiffs at Kolkata
and the defendants have invoked the performance guarantee of
the plaintiffs from the Allahabad Bank now Indian Bank which
is within
