Supreme Court on 'bank guarantees' & 'letter of credit' !

In a significant ruling, the Supreme Court has laid down guidelines for encashment of bank guarantee or letter of credit. A bench comprising justice Tarun Chatterjee and justice PK Balasubramanyan said, “We find that the following principles should be noted in the matter of injunction to restrain the encashment of a bank guarantee or a letter of credit (LoC). ” First, banks that give such guarantees are duty-bound to honour them as per terms agreed upon between the parties concerned, ir

Daily Limit Reached

You have reached your daily limit of 2 Free News

Subscribe to CCI PRO for unlimited access

Why Upgrade to CCI PRO?

No Ads
WhatsApp Community
Daily E-Newsletter
Unlimited News Access
Profile Visitors
Link Social Profiles
Featured Job Posts
Pro Badge
Expert GST Guidance
Unlimited Forum Replies
Download Content in PDF

1 Year PLAN

1999

(Excl. of GST ₹359)

2 Years PLAN

3499

(Excl. of GST ₹629)

BEST VALUE

3 Years PLAN

4999

(Excl. of GST ₹899)

View all CCI PRO benefits

Already a PRO member? Login here for an ad-free experience. 07941056694

9192 Views Comment Share Community & General Report

News posted by

CCI News Desk

Finance news reporter covering taxation, GST, income tax, business compliance, and economy updates. I simplify complex financial topics into easy-to-understand articles for professionals, taxpayers, and business owners on leading finance and tax platforms.

View News

Comments :