Remedies for Bank Refusal to Honor LC Due to Discrepancies

High Court Of Uttarakhand

  the  Bank

2012 0 Supreme(Bom) 1353

Bank at any of its Branch by the Respondents. The effect of amalgamation made the Petitioner – Bank to step in the shoes by payee and has to enchash the cheques issued in favour of the Centurion Bank as the dishonour thereof has taken place at Ahmadabad on its presentation. ... This illustrate, the existence of alternate remedy is a bar for invocation of inherent powers under Section 482 of Cr.P.C. or under Article 227 of Constitution of India. The remedy of revision could not be overl....

2024 0 Supreme(Cal) 305

Thus, there was a deemed refusal of such ad interim prayer and the petitioners cannot be granted the same relief by the writ court. 16. ... It is argued that the petitioners’ account was classified as Non Performing Asset (NPA) entirely due to the illegal invocation of the bank guarantee. If the substantial amount was not debited from the petitioners’ account as a result of the invocation, the account would still remain regular. ... It is well-settled that Order XXXIX Rule 2A is not the only remedy for violation of an in....

2024 0 Supreme(Cal) 30

Thus, the Bank was empowered by the petitioner no. 1 to appropriate proceeds out of any security interest for amounts due from any of the affiliates of the borrower. ... Taking first thing first, Clause 13.3 (b) envisages satisfaction of any amounts due to the bank on account of “another agreement or transaction” entered into by the borrower or any of the affiliates of the borrower with the Bank. ... As per the said Clause, the petitioner no. 1/borrower gave the Bank the power to appro....

2018 0 Supreme(MP) 32

Entries in the cheque by another person does not disentitle the complainant to enchash the cheque. Hence, the order is bad in the eye of law. ... 5.

2018 Supreme(Online)(KER) 44777

the bank guarantee until the damages are properly quantified in the arbitration proceedings.” ... Learned counsel for the respondents pointed out that, a direction quashing Exhibit P5 as arbitrary, illegal and unconstitutional; (ii) issue a writ of mandamus or such other writ, direction or order compelling the respondents not to enchash ... Be that as it may, the interim order granted by this Court on 17.9.2015 in the writ petition against the invocation of the bank guarantee is even now in force consequent to....

Patna High Court - Principal Bench Patna

parties with regard to the same but the complainant was not fair he shall not seriously oppose the application since he is only concerned with the amount which was due

The First ground urged by learned counsel was that the petitioners had a legitimate expectation of continuing in the service of the bank beyond the age of 55 years and that such legitimate expectation had been negated by the conduct of the bank by the refusal of the bank to extend their service ... Since the petitioner was of the view that he had capacity and the ability to serve the Bank upto the age of 60 years, in February 2005 he had applied for his first extension of service, which fell ....

High Court Malaya Kuala Lumpur

Bhd ("TMLM"), and the Defendant, RHB Bank Berhad ("RHB"). ... RHB argues that this is not an appropriate case for injunctive relief under s 55 of the Specific Relief Act 1950, as TMLM's remedy, if any, lies in damages. ... The timing is significant because, as evidenced by the bid process documentation, Phase 1 bids were explicitly stated to be non-binding, while Phase 2 was designated for final binding bids after bidders had received detailed information about the business and conducted due diligence. ... RHB appointed Bank#HL_....

Court of Appeal Putrajaya

The balance of convenience favoured refusal of the injunction. ... (3) the judge must have in the forefront of his mind that the remedy that he is asked to administer is discretionary, intended to produce a just result for the period between the date of the application and the trial proper and intended to maintain

2019 0 Supreme(Del) 2258

In this case, however, as regards LCs 150, 154 and 159, no such question arose; whereas with regard to LC 151, the refusal to honour the LC by Allahabad Bank (after receiving notice of nonacceptance by STC) came after 5 days from presentation of the LC by the foreign bank. In such a case, the terms of Article 16(d), read with 16(f), are clear, in that payment under the LC subsequently by the foreign bank cannot be objected to.” (Emphasis Supplied) However, if Allahabad Bank were to determine that the documents do not constitute complying presentation, the same could be waiv....

2019 0 Supreme(Mad) 2676

The Unit wise split of the Price of Escalators is given in Annexure II of this Agreement is confirmed by both parties that the Sale of Escalators shall take place as a High Seas Sales transaction and both parties agree to enter into High Seas Sales Agreement at the required time that will be forming part of the agreement. Any delay in receipt of payment over 7 days from the date of negotiation of LC by Kone to its bank, either due to owner, or its bank shall attract interest % negotiation of LC by Kone to its Bank, either due to owner, or its bank shall attract interest @ T....

2017 0 Supreme(Del) 182

In such a case, the terms of Article 16(d), read with 16(f), are clear, in that payment under the LC subsequently by the foreign bank cannot be objected to. However, if Allahabad Bank were to determine that the documents do not constitute complying presentation, the same could be waived by STC/Millennium. In this case, however, as regards LCs 150, 154 and 159, no such question arose; whereas with regard to LC 151, the refusal to honour the LC by Allahabad Bank (after receiving notice of non-acceptance by STC) came after 5 days from presentation of the LC by the foreign bank.#HL_END....

2016 0 Supreme(Del) 3320

As per the Bill of Exchange, the LC issuing bank was to pay the due amount to the complainant bank. The LC issuing bank was at default in paying the dues and accordingly the complainant bank which was to raise the demand, did not proceed with any legal forum but lodged a complaint against the applicant because the applicant is a local person and by lodging a criminal case against the petitioner their motive is to easily recover the money. 8. Learned counsel for the petitioner further contended that from the very initiation of the transaction between the applicant and the ba....