DC-0173Doctrines · Banking · Wanted
Autonomy of Bank Guarantees
Scope
The rule that a bank must honour an unconditional guarantee whatever the dispute beneath it, save for fraud or irretrievable injustice.
Authorities to start from
- U.P. Coop. Federation Ltd. v. Singh Consultants & Engineers (P) Ltd., (1988) 1 SCC 174
- Hindustan Steelworks Construction Ltd. v. Tarapore & Co., (1996) 5 SCC 34
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