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United India Insurance Co Ltd vs M/S Riga Sugar Co Ltd

Supreme Court Of India|27 October, 2009
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JUDGMENT / ORDER

Summary

Issue: Whether the bank guarantee/security should be discharged.
Rule: Indian Contract Act, 1872 - Sections 14, 15, and 16.
Application: The court applied the provisions of the Indian Contract Act, 1872, to determine whether the bank guarantee/security should be discharged.
Conclusion: The court dismissed the appeal and held that the bank guarantee/security shall stand discharged.
IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURISDICTION CIVIL APPEAL NO. 7493 OF 2004 UNITED INDIA INSURANCE CO. LTD. ..... APPELLANT VERSUS M/S RIGA SUGAR CO. LTD. ..... RESPONDENT O R D E R Heard the learned counsel for the parties.
We find no merit in this appeal which is, accordingly, dismissed. As a result, the bank guarantee/security shall stand discharged.
No costs.
. J [MARKANDEY KATJU] . J [ASOK KUMAR GANGULY] NEW DELHI OCTOBER 27, 2009.
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Title

United India Insurance Co Ltd vs M/S Riga Sugar Co Ltd

Court

Supreme Court Of India

JudgmentDate
27 October, 2009
Judges
  • Markandey Katju
  • Asok Kumar Ganguly

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