Supreme Court · 1991 INSC 175 · Decided 7 August 1991
General Electric Technical Services Company INC. v. Punj Sons (P) LTD. and Another
- Court
- Supreme Court of India
- Citation
- 1991 INSC 175 · [1991] 3 S.C.R. 412
- Case number
- CIVIL APPEAL No. 3087/1991
- Decided
- 7 August 1991
- Bench
- K. JAGANNATHA SHETTY, V. RAMASWAMI, YOGESHWAR DAYAL (3-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
Cnntract-Termination due to failure to comply specifications­ Bank guarantee-Claim for encashment-Liability of Bank-Order restraining Bank from making payment-Legality of. The appellant's contract with Indian Airlines included the construction and fabrication of air craft For getting that work done, the appellant eiilUed into a contract with the tespondent-I. As per the contract, respondent-I was require'd to provide performan.:e boml equal to 30 per cent of the total value of contract price, which was to be split up into two performance bonds partly to be
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