TaxTMI 
TaxTMI 
Bank Guarantee with auto renewal clause
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....ank Guarantee with auto renewal clause<br> Query (Issue) Started By: - Srivatsan Krishnamachari Dated:- 5-3-2016 Last Reply Date:- 8-3-2016 Central Excise<br>Got 2 Replies<br>Central Excise<br>Dear Ex....
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....perts, We need to execute Bank Guarantee on one particular issue to the AC, Central Excise dept. with auto renewal clause, Where as our bankers not accepting with Auto renewal clause. If any body h....
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....as come across this type of issue, please provide me the details (BG format with Bank details). Thanking you, Srinivas Reply By KASTURI SETHI: The Reply: Sh.Srivatsan Krishnamachari Ji, I sugges....
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....t you two options:- 1. Go through Chapter 14 (Para No.9) of CBEC's Excise Manual of Supplementary Instructions, 2005 wherein there is provision for supplementary deed of bank guarantee on a stamp....
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.... paper. 2. In this context, judgement Delhi High Court is appended below:- ZEST AVIATION PVT. LTD. Versus UNION OF INDIA 2013 (289) E.L.T. 243 (Del.) = 2013 (6) TMI 9 - DELHI HIGH COURT Reply By Ma....
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....hir S: The Reply: Sir, Most of the banks nowadays do execute B.G. with auto renewal clause. If they are not doing so, then take the matter with Head Branch. Else, simply just change the Bank.<br> D....
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