Supreme Court · 2008 INSC 681 · Decided 15 May 2008
Bank of India v. Nangia Constructions (I) PVT. LTD. and ORS.
- Court
- Supreme Court of India
- Citation
- 2008 INSC 681 · [2008] 8 S.C.R. 1020
- Case number
- CIVIL APPEAL No. 1315/2001
- Decided
- 15 May 2008
- Bench
- TARUN CHATTERJEE, DALVEER BHANDARI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
~ Bank Guarantee: c Nationalized Bank - Unconditional on-demand bank ) guarantee - Invoked during validity period of the bank guar-, antee - On facts, held: The bank was bound to honour its com- mitment and pay the amount of guarantee - The bank refused to make payment on totally grounds D - High Court was fully justified in deprecating the conduct of 'of Appellant-bank. • The bank guarantee in question was an uncondi- tional on-demand bank guarantee. It was invoked during E the validity period of the bank guarantee. Thereafter, an application was filed in the
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