Supreme Court of India
Bank of India v. Nangia Constructions (i) Pvt. Ltd. and Ors.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Bank Guarantee: c Nationalized Bank - Unconditional on-demand bank ) guarantee - Invoked during validity period of the bank guar-, antee - On facts, held: The bank was bound to honour its com- mitment and pay the amount of guarantee - The bank refused to make payment on totally untenable and frivolous grounds - High Court was fully justified in deprecating the conduct of 'of Appellant-bank. • The bank guarantee in question was an uncondi- tional on-demand bank guarantee.…
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