BOMBAY HIGH COURT
MANISH PITALE, J
The Board of Control for Cricket in India – Appellant
Versus
Union Bank of India – Respondent
| Table of Content |
|---|
| 1. nature of bank guarantees and context of disputes (Para 1 , 2 , 3) |
| 2. issues framed by the court during hearing (Para 10 , 11 , 12) |
| 3. arguments regarding unconditional nature of bank guarantees (Para 14 , 15 , 16 , 17) |
| 4. court's interpretation on provisions of bank guarantees (Para 28 , 29 , 30 , 31 , 32 , 33) |
| 5. independence of bank guarantees from principal contracts (Para 41 , 46) |
| 6. final decree and orders on costs and claims (Para 54 , 55 , 56) |
ORDER :
.The plaintiff - Board of Control for Cricket in India (BCCI) has filed these three commercial summary suits against Punjab National Bank, Indian Bank and Union Bank of India, for recovery of specific amounts in the backdrop of bank guarantees executed in favour of the plaintiff. This judgement and order shall dispose of the three suits. In the facts and circumstances of the present case, the parties chose not to lead any evidence. The plaintiff has proceeded on the basis that the three bank guarantees, being irrevocable and independent contracts between the said banks and the plaintiff, having nothing to do with the main or underlying contract under which the bank guarantees were issued. Upon the bank guarantees b
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