Supreme Court · 1995 INSC 342 · Decided 8 May 1995
National Thermal Power Corporation LTD v. M/S. Flowmore Private LTD. and ANR.
- Court
- Supreme Court of India
- Citation
- 1995 INSC 342 · [1995] SUPP. 1 S.C.R. 29
- Case number
- CIVIL APPEAL No. 5437/1995
- Decided
- 8 May 1995
- Bench
- J.S. VERMA, SUJATA V. MANOHAR (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Arbitration Act Section 41
Headnote
B Arbitration Act, 1940: Section 41. Contract-Bank guarantees-Peiformance guarantees and guarantees against advance-<Juarantees payable on demand-:Dispute between par- c;: ties-Arbitration proceedings-Non-invokation of guarantees by owner during the proceedings-Conduct' of party in renewing the the beneficiary from invoking the guaran- _,, tees. Bank Guarantee-Clause that demand by beneficiary shall be bind- D ,... ing-Effect of ..... In a contract between the appellant and the respondent, the latter furnished five bank guarantees in favour of the appellant all of which were
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