https://www.taxtmi.com/caselaws?id=341534 An unconditional bank guarantee was treated as ordinarily enforceable on valid invocation, with the bank not concerned with the underlying dispute. Allegations of fraud were rejected for want of material particulars, and special equity was found insufficient to restrain encashment on merits. However, because the substantive dispute remained pending in arbitration, the Court granted limited interim protection by allowing substitution security through a fresh bank guarantee and indemnity arrangement, together with a brief restraint on immediate realisation. en-us Tue, 06 Dec 2016 00:00:00 +0530 Tue, 11 Apr 2017 07:40:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=341534 An unconditional bank guarantee was treated as ordinarily enforceable on valid invocation, with the bank not concerned with the underlying dispute. Allegations of fraud were rejected for want of material particulars, and special equity was found insufficient to restrain encashment on merits. However, because the substantive dispute remained pending in arbitration, the Court granted limited interim protection by allowing substitution security through a fresh bank guarantee and indemnity arrangement, together with a brief restraint on immediate realisation. Case-Laws Service Tax Tue, 06 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=341534