https://www.taxtmi.com/caselaws?id=466093 Construction and harmonisation of contractual clauses: Clause 33 operates to cap the guarantor's maximum liability while Clause 3 independently creates a liability to pay default interest if the guarantor fails to discharge the guaranteed obligation; because the guaranteed amount remained unpaid after invocation, default interest accrues under Clause 3 and cannot be excluded by the liability cap in Clause 33, preventing the guarantor from obtaining the benefit of its own wrong. The appellate challenge to this construction was dismissed for lack of merit. en-us Thu, 16 Jan 2025 00:00:00 +0530 Fri, 23 Jan 2026 19:18:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466093 Construction and harmonisation of contractual clauses: Clause 33 operates to cap the guarantor's maximum liability while Clause 3 independently creates a liability to pay default interest if the guarantor fails to discharge the guaranteed obligation; because the guaranteed amount remained unpaid after invocation, default interest accrues under Clause 3 and cannot be excluded by the liability cap in Clause 33, preventing the guarantor from obtaining the benefit of its own wrong. The appellate challenge to this construction was dismissed for lack of merit. Case-Laws IBC Thu, 16 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466093