https://www.taxtmi.com/caselaws?id=309437 The court upheld the termination of the contracts due to the appellant's failure to remedy breaches within the stipulated time. It allowed the respondent to invoke the bank guarantees, emphasizing their independence and enforceability unless fraud or irretrievable injustice is proven. The responsibility for obtaining necessary permissions was shifted to the appellant, who failed to show significant progress despite multiple time extensions. Allegations of fraud and special equity were dismissed, and the court found the respondent not subject to Article 14. Injunctions against invoking bank guarantees were denied, and costs were awarded against the appellant. en-us Mon, 15 Sep 2014 00:00:00 +0530 Sat, 02 Sep 2023 21:13:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=309437 The court upheld the termination of the contracts due to the appellant's failure to remedy breaches within the stipulated time. It allowed the respondent to invoke the bank guarantees, emphasizing their independence and enforceability unless fraud or irretrievable injustice is proven. The responsibility for obtaining necessary permissions was shifted to the appellant, who failed to show significant progress despite multiple time extensions. Allegations of fraud and special equity were dismissed, and the court found the respondent not subject to Article 14. Injunctions against invoking bank guarantees were denied, and costs were awarded against the appellant. Case-Laws Indian Laws Mon, 15 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=309437