"Bank Guarantees are not furnished for being photo framed and kept in a drawing room:" Delhi High Court

The Court said that bank guarantees must be free from interference by courts, otherwise trust in internal and international commerce would be irreparably damaged.
Bank Guarantee
Bank Guarantee

The Delhi High Court last week observed that except in cases of fraud, irretrievable injustice and special equities, the Court shall not interfere with the invocation or encashment of a 'bank guarantee', provided the invocation was as per terms of the bank guarantee (SPML Infra Ltd. vs. Hitachi India Ltd. & Anr.).

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