https://www.taxtmi.com/caselaws?id=307016 An on-demand bank guarantee is ordinarily autonomous and enforceable according to its terms, but interference is justified only in cases of established egregious fraud or irretrievable injustice. The note states that a beneficiary's demand may be treated as prima facie fraudulent where it asserts total default despite cancelling or suspending part of the underlying contract, supporting interim protection against invocation. It also explains that earlier protective arrangements concerning security may be varied on equitable grounds, and that courts may preserve substitute security to balance restitution, contractual autonomy, and the parties' interim positions pending arbitral directions. en-us Fri, 24 Sep 2010 00:00:00 +0530 Mon, 13 Mar 2023 16:02:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=307016 An on-demand bank guarantee is ordinarily autonomous and enforceable according to its terms, but interference is justified only in cases of established egregious fraud or irretrievable injustice. The note states that a beneficiary's demand may be treated as prima facie fraudulent where it asserts total default despite cancelling or suspending part of the underlying contract, supporting interim protection against invocation. It also explains that earlier protective arrangements concerning security may be varied on equitable grounds, and that courts may preserve substitute security to balance restitution, contractual autonomy, and the parties' interim positions pending arbitral directions. Case-Laws Indian Laws Fri, 24 Sep 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=307016