https://www.taxtmi.com/caselaws?id=191049 Unconditional and irrevocable bank guarantees payable on demand without demur cannot ordinarily be restrained by interim injunction during arbitration. The creditor remained entitled to invoke the guarantees because disputes over the amount due were still pending before the arbitrator, and any understanding between the respondent and the bank could not cut down that contractual right. The settled exception for injunctions against bank guarantees applies only on proof of established fraud or irretrievable injury, and neither was shown. The injunction was therefore unwarranted and was set aside in favour of the appellant. en-us Wed, 13 Sep 1995 00:00:00 +0530 Sat, 18 Mar 2017 13:22:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=191049 Unconditional and irrevocable bank guarantees payable on demand without demur cannot ordinarily be restrained by interim injunction during arbitration. The creditor remained entitled to invoke the guarantees because disputes over the amount due were still pending before the arbitrator, and any understanding between the respondent and the bank could not cut down that contractual right. The settled exception for injunctions against bank guarantees applies only on proof of established fraud or irretrievable injury, and neither was shown. The injunction was therefore unwarranted and was set aside in favour of the appellant. Case-Laws Indian Laws Wed, 13 Sep 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=191049