Encashment of an unconditional and irrevocable bank guarantee cannot be injuncted except in cases of fraud of egregious nature, irretrievable injury, or special equities. Financial distress is not equal to irretrievable injury.

     Update by Akshat Shukla

Suzlon Energy Limited v. Zemira Renewable Energy Limited Court: Delhi High Court | Case Number: OMP (I) COMM 340 of 2019 and connected matters | Citation: Not currently available | Judge: Jyoti Singh J| Date: | Available at: http://164.100.69.66/jupload/dhc/JIS/judgement/05-06-2020/JIS04062020OMPICOMM3402019_170034.pdf, https://indiankanoon.org/doc/5158046/   A. INVOCATION OF BANK GUARANTEE AND APPLICATION TO RESTRAIN ENCASHMENT

Continue reading
Categories: Egregious fraud |  Encashment of Bank Guarantees |  Injunctions against Bank Guarantees |  Interim measures by court |  Irretrievable injury |  Section 9 |  Special equities  

Specific performance of a determinable contract cannot be granted nor can any injunction be issued to restrain the termination (Delhi High Court)

     Update by Amitabh Abhijit

      Inter Ads Exhibition Pvt. Ltd. v. Busworld International Cooperative Vennootschap Met Beperkte Anasprakelijkheid Court: High Court of Delhi | Case Number: FAO(OS) (COMM) 23/2020 | Citation: Not currently available | Judges: Hima Kohli and Asha Menon JJ | Date: 01 May 2020 | Available at: https://indiankanoon.org/doc/15135917/   A 2-judge bench

Continue reading
Categories: Appealable orders |  Determinable contract |  Interim orders |  Section 37 |  Section 9 |  Termination of contract  

Bombay High Court’s ad-interim order based on an Emergency Award passed in a SIAC Arbitration

     Update by Editor

Plus Holdings Limited v. Xeitgeist Entertainment Group Limited and others Bombay High Court; single-judge bench, GS Kulkarni J; 07 March 2020   GS Kulkarni J of the Bombay High Court recently passed an ad-interim injunction under Section 9 ACA recognising and thus giving effect to an Emergency Award made by

Continue reading
Categories: Emergency Arbitrator |  Emergency Award |  Section 9