Legal Question in Banking Law in India

Re: Irrevocable bank guarantee

Only if there is a prima facie case and irreparable loss is caused to you.

Re: Irrevocable bank guarantee

May depend upon situations.

Re: Irrevocable bank guarantee

Depends upon facts of the case.

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Re: Irrevocable bank guarantee

Normally court would not grant injunction against enforcement of bank guarantee, unless (1) the fact that there is initial fraud at the time of execution the guarantee and (2) the financial position of the invoker of the bank guarantee is so fragil that he may not be able to repaly the amount if ultimately the suit is decreed. Except the above two conditions the court would not injuct the invocation of irrevocable bank guarantee.

Howerver there is not straight jacket rule nor there is any legal ban on court granting injunction against enforcement of a irrevocable bank guarantee. It normally would depend upon case to case.

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Re: Irrevocable bank guarantee

No court will normally grant injunction against invocation of guarantee in accordance with the terms of such guarantee. However, if it is prima facie established that fraud was played on the Banker or the debtor in securing the guarantee, the court can grant an injunction against invocation. It all depends upon the facts of each case. The rule is no injunction in the case of irrevocable guarantee and the exception has to be established strongly to overule.

Re: Irrevocable bank guarantee

Court could give u injunction if there is fraud or if your could proove irretreivable loss.

Re: Irrevocable bank guarantee

no, but if there is alleagtions of force or fraud, then it is possible