https://www.taxtmi.com/caselaws?id=301112 An environmental regulator may require industrial units to furnish a bank guarantee as a compliance measure to secure consent conditions and fund restoration where pollution-control defaults persist. The guarantee is not penal merely because it operates on non-compliance; it is compensatory and restorative when linked to environmental safeguards and repeated violations. A bank guarantee expressly providing for forfeiture on failure to meet stipulated obligations may be validly invoked in accordance with its terms, absent fraud or irretrievable injustice. Amounts realised from invocation must be confined to environmental restoration and allied pollution-control purposes. en-us Thu, 09 Jan 2014 00:00:00 +0530 Mon, 14 Mar 2022 07:46:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=301112 An environmental regulator may require industrial units to furnish a bank guarantee as a compliance measure to secure consent conditions and fund restoration where pollution-control defaults persist. The guarantee is not penal merely because it operates on non-compliance; it is compensatory and restorative when linked to environmental safeguards and repeated violations. A bank guarantee expressly providing for forfeiture on failure to meet stipulated obligations may be validly invoked in accordance with its terms, absent fraud or irretrievable injustice. Amounts realised from invocation must be confined to environmental restoration and allied pollution-control purposes. Case-Laws Indian Laws Thu, 09 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=301112