Supreme Court · 2016 INSC 869 · Decided 15 September 2016
Union of India & ANR. v. M/S Indusind Bank LTD. & ANR.
- Court
- Supreme Court of India
- Citation
- 2016 INSC 869 · [2016] 11 S.C.R. 700
- Case number
- CIVIL APPEAL No. 9087/2016
- Decided
- 15 September 2016
- Bench
- C. NAGAPPAN, R.F. NARIMAN (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Contract Act Section 28
Headnote
Contract Act, 1872: c s.28 (unamended and as amended w.e.f 08.01.1997) - Applicability of - Applications invited by Textile Commissioner for export of extra-long staple cotton - Contracts executed with exporters by appellant in January,1996 - The exporters furnished bank guarantee on 31.01.1996 to furnish certain D docu111ents regarding export within stipulated period~ Consequently, Textile Commissioner invoked the bank guarantees - Respondent­ bank refused to pay the guarantees stating that the guarantees could be invoked only within extended period of three months i.e up to
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