Bank Guarantees

Delhi High Court
Case BriefsHigh Courts

‘The person at whose instance a Bank Guarantee has been issued by the bank is not a party to it and is merely a benefactor from whose account the payment would be realized.’

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

“The ‘Bank Guarantee’ is a ‘contract of Guarantee’ provided/furnished by the Bank, the “surety”, to perform the ‘promise’, or ‘discharge’ the liability, of the third person, being the Corporate Debtor herein, in case of his ‘default’.”

national company law appellate tribunal
Case BriefsTribunals/Commissions/Regulatory Bodies

NCLAT held that during the moratorium period under Section 14 of IBC, Customs Authorities are authorized to utilize Bank Guarantees and Fixed Deposits furnished against Zero Import Duty.

Op EdsOP. ED.

by Jaideep Khanna*