Court Rules Respondents Cannot Withhold Bank Guarantees After Petitioner Surrenders Warehousing License and Commits to Liability.

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....Release of bank guarantee - Petitioner already surrendered its warehousing licence and is currently not holding any of the license - Moreover, the petitioner has also given an undertaking to the respondents that it will discharge all liabilities that may be finalised or arise against the petitioner. In these circumstances, in the opinion of this court, the respondents are not justified in withholding the bank guarantees - HC....