https://www.taxtmi.com/caselaws?id=178382 The SC set aside the HC's judgment, determining the document in question was a contract of indemnity rather than a bank guarantee. The HC's interpretation errors and inappropriate reliance on oral evidence were highlighted. The SC restored the trial court's decree, reinstating the original 12% interest rate, and allowed the appeal with costs. en-us Thu, 06 Jul 2006 00:00:00 +0530 Mon, 04 Mar 2024 11:58:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=178382 The SC set aside the HC's judgment, determining the document in question was a contract of indemnity rather than a bank guarantee. The HC's interpretation errors and inappropriate reliance on oral evidence were highlighted. The SC restored the trial court's decree, reinstating the original 12% interest rate, and allowed the appeal with costs. Case-Laws Indian Laws Thu, 06 Jul 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=178382