https://www.taxtmi.com/caselaws?id=199151 A writ under Article 226 ordinarily does not lie to restrain enforcement of an unconditional bank guarantee arising from a commercial contract, absent fraud, special equities, or a clear public law element. The existence of an arbitration clause and civil remedies further weighs against writ relief, so the challenge to invocation on that basis failed. The statutory scheme under the Shipping Development Fund Committee (Abolition) Act, 1986 did not prevent invocation on the facts, and the guarantees had been furnished in favour of the Central Government. The respondents were therefore not shown to lack authority to proceed against the guarantees. en-us Mon, 20 Feb 1995 00:00:00 +0530 Wed, 21 Feb 2018 14:53:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=199151 A writ under Article 226 ordinarily does not lie to restrain enforcement of an unconditional bank guarantee arising from a commercial contract, absent fraud, special equities, or a clear public law element. The existence of an arbitration clause and civil remedies further weighs against writ relief, so the challenge to invocation on that basis failed. The statutory scheme under the Shipping Development Fund Committee (Abolition) Act, 1986 did not prevent invocation on the facts, and the guarantees had been furnished in favour of the Central Government. The respondents were therefore not shown to lack authority to proceed against the guarantees. Case-Laws Indian Laws Mon, 20 Feb 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=199151