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U. P. Expressways Industrial Development Authority Thru Chief Executive Officer – Appellant
Versus
Sahakar Global Ltd. Thru Thru Authorized Signatory Stephen Lobo – Respondent
| Table of Content |
|---|
| 1. overview of the contract between upeida and sahakar global ltd. (Para 2 , 4) |
| 2. arguments regarding the implications of the status quo order. (Para 3 , 8) |
| 3. discussion on the nature and invocability of bank guarantees. (Para 10 , 12) |
| 4. court's legal scrutiny of claims made by both parties. (Para 11 , 13 , 14 , 15) |
| 5. precedents regarding bank guarantees and conditions for injunctive relief. (Para 21 , 22 , 24) |
| 6. clarification of fraud and its threshold in bank guarantee cases. (Para 31 , 32) |
| 7. assessment of irretrievable injustice as a factor in bank guarantee invocation. (Para 40 , 41) |
| 8. final decision on the appeal and the implications of an unconditional bank guarantee. (Para 49 , 50) |
JUDGMENT :
Om Prakash Shukla, J.
1. Heard Mr Brijesh Kumar Saxena Learned Advocate appearing for UPEIDA and Mr. Jaideep Narain Mathur, Learned Senior Advocate along with Mr. Pritish Kumar representing M/s Sahakar Global Ltd.
2. A short but seminal question arises in the present Appeal filed under section 37 of the Arbitration & Conciliation Act, 1996 (as amended) by the Uttar Pradesh Ex
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