Supreme Court: Foreign Companies’ Head Office Expenses in India are Capped under Section 44C  ||  SC Directs Trial Courts to Systematically Catalogue Witnesses and Evidence in Criminal Judgments  ||  SC Calls For Sensitising Future Generations on Equality in Marriage to Combat Dowry Practices  ||  SC: Separate Suits Against Confirmed Auction Sales are Barred; Remedy Available under Sec 47  ||  NCLT Mumbai: Oppression Claims Against Majority Shareholders Do not Justify Winding up a Company  ||  J&K&L HC Rules it Illegal and Inequitable to Deny Regularisation to a Daily Wager After 34 Years  ||  J&K&L High Court: Revisional Powers Must Be Used Within Reasonable Time; Merits Don’t Justify Delay  ||  Supreme Court: Compassionate Appointees Cannot Later Claim Entitlement to a Higher Post  ||  NCLAT New Delhi: Insolvency Pleas Cannot Be Admitted When Information Utility Records Show a Dispute  ||  NCLAT: Issuing Cheques For Another Entity’s Liabilities Does not Constitute Operational Debt    

Kerala HC: Right of Creditor to Have Bank Guarantee Invoked Only During Currency of Bank Guarantee - (29 Apr 2021)

CONTRACT

Kerala High Court has held that the right of a creditor to have the Bank Guarantee invoked is only during the currency of the Bank Guarantee and not during the extended claim period of one year. The Court has explained that the extended claim period, allowed pursuant to the insertion of Exception 3 to Section 28 of the Contract Act, 1872 could be claimed only when the bank guarantee was invoked during the validity of the Agreement or the Bank Guarantee.

Tags : KERALA HIGH COURT   BANK GUARANTEE  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved