https://www.taxtmi.com/caselaws?id=299708 An unconditional bank guarantee is treated as an independent contract and may be enforced according to its terms even when disputes exist under the underlying contract. Ordinary contractual disagreements do not justify restraint of encashment. Injunction against invocation is available only on clear proof of egregious fraud or on special equities showing irretrievable injury or injustice. The allegations of fraud were found unsupported by clear material, and the surrounding facts did not establish any exceptional ground for interference. Accordingly, the guarantees were regarded as enforceable and no injunction was warranted. en-us Fri, 26 Sep 2014 00:00:00 +0530 Sun, 26 Dec 2021 09:28:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299708 An unconditional bank guarantee is treated as an independent contract and may be enforced according to its terms even when disputes exist under the underlying contract. Ordinary contractual disagreements do not justify restraint of encashment. Injunction against invocation is available only on clear proof of egregious fraud or on special equities showing irretrievable injury or injustice. The allegations of fraud were found unsupported by clear material, and the surrounding facts did not establish any exceptional ground for interference. Accordingly, the guarantees were regarded as enforceable and no injunction was warranted. Case-Laws Indian Laws Fri, 26 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299708