https://www.taxtmi.com/caselaws?id=106191 Unconditional and irrevocable bank guarantees will not ordinarily be restrained from encashment under section 9 of the Arbitration and Conciliation Act, 1996, because judicial interference is exceptional and depends on recognised grounds. An injunction is justified only on clear, established fraud of an egregious nature or on a real case of irretrievable injustice; pending arbitration or disputes under the underlying contract are insufficient by themselves. A demand under a bank guarantee need not satisfy the strict documentary standards applicable to letters of credit, so long as the invocation is substantially in terms of the instrument. Compliance with an interim restraint order does not by itself amount to acquiescence or waiver. en-us Tue, 09 Feb 1999 00:00:00 +0530 Tue, 13 Mar 2012 11:40:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=106191 Unconditional and irrevocable bank guarantees will not ordinarily be restrained from encashment under section 9 of the Arbitration and Conciliation Act, 1996, because judicial interference is exceptional and depends on recognised grounds. An injunction is justified only on clear, established fraud of an egregious nature or on a real case of irretrievable injustice; pending arbitration or disputes under the underlying contract are insufficient by themselves. A demand under a bank guarantee need not satisfy the strict documentary standards applicable to letters of credit, so long as the invocation is substantially in terms of the instrument. Compliance with an interim restraint order does not by itself amount to acquiescence or waiver. Case-Laws Companies Law Tue, 09 Feb 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=106191