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IN THE HIGH COURT OF KERALA
KURIAN JOSEPH, Rohinton Fali Nariman, JJ
Gujarat Maritime Board – Appellant
Versus
L and T Infrastructure Development Projects Ltd. – Respondent
| Table of Content |
|---|
| 1. jurisdiction of high court under article 226 (Para 2 , 3) |
| 2. conditions of engagement with bank guarantee emphasized (Para 4 , 5) |
| 3. writ petition considerations and their scope discussed (Para 8 , 9 , 10) |
| 4. independence and unconditional nature of bank guarantees underscored (Para 12 , 13) |
JUDGMENT
Kurian Joseph, J.
Leave granted.
2. Whether the High Court is justified in exercising its discretionary jurisdiction under Article 226 of the Constitution of India for restraining the appellant from invoking an unconditional bank guarantee executed by the first respondent, is the main issue arising for consideration in this case.
3. The appellant invited bids for development of Sutrapada Port. In the process, a Letter of Intent (hereinafter referred to as ‘LoI’) was issued to the first respondent on 06.02.2008. The relevant conditions of LoI are extracted below: 1.7 The Lead Promoter shall submit a detailed project report within 12 months of issue of this Letter of Intent (LOI) and present it to Gujarat Maritime Board for their approval.
1.8 The Lead Promoter shall obtain all environment clearances and coastal regulation zone (CRZ) clearances and effective financial closur
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