https://www.taxtmi.com/caselaws?id=256486 The court dismissed the petition, allowing the respondent to invoke the bank guarantees. The court determined that the bank guarantees were performance guarantees, emphasizing their unconditional nature. It found no evidence of irreparable harm to the petitioner and held that the ongoing arbitration proceedings did not justify restraining the invocation of the guarantees. The court vacated the stay previously granted, highlighting the independence of bank guarantees from underlying disputes. en-us Tue, 16 Dec 2014 00:00:00 +0530 Fri, 13 Feb 2015 18:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256486 The court dismissed the petition, allowing the respondent to invoke the bank guarantees. The court determined that the bank guarantees were performance guarantees, emphasizing their unconditional nature. It found no evidence of irreparable harm to the petitioner and held that the ongoing arbitration proceedings did not justify restraining the invocation of the guarantees. The court vacated the stay previously granted, highlighting the independence of bank guarantees from underlying disputes. Case-Laws Indian Laws Tue, 16 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256486