https://www.taxtmi.com/caselaws?id=416339 In a Section 9 petition arising from an international commercial arbitration, the High Court held that territorial jurisdiction existed where part of the cause of action arose within its limits, and the governing-law clause did not oust interim relief jurisdiction. It also declined to treat the bank and its overseas branch as separate entities for defeating relief over a unified guarantee arrangement. Applying the principles governing bank guarantees, the Court found special equities and that invocation was not based on any subsisting performance breach, as supplies were complete, the warranty period had expired, and the demand related to retention money and settled claims. The interim injunction restraining encashment was confirmed. en-us Tue, 23 Nov 2021 00:00:00 +0530 Mon, 27 Dec 2021 06:35:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416339 In a Section 9 petition arising from an international commercial arbitration, the High Court held that territorial jurisdiction existed where part of the cause of action arose within its limits, and the governing-law clause did not oust interim relief jurisdiction. It also declined to treat the bank and its overseas branch as separate entities for defeating relief over a unified guarantee arrangement. Applying the principles governing bank guarantees, the Court found special equities and that invocation was not based on any subsisting performance breach, as supplies were complete, the warranty period had expired, and the demand related to retention money and settled claims. The interim injunction restraining encashment was confirmed. Case-Laws Indian Laws Tue, 23 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416339