GLOBAL ENERGY & COMMODITY EXCHANGE GROUP ITALY SPA (GECX GROUP) versus TRADING CORPORATION OF PAKISTAN
Section 41 Civil Procedure Code (V of 1908), O XXXX, Rr 1 and 2 Contract Act (IX of 1872), Section 126 Bank Guarantee Dispute between buyers and suppliers in cash, in which the defendants at the time of contract An improper request to prevent a buyer from having to overcome the bank guarantee offered by the defendants, cannot be interfered with in the terms of the guarantee of ineligibility of the guarantee, whether or not there is a dispute under it. Interim order will be subject to the payment of the restriction. Once the terms and conditions of the guarantee are fulfilled, if the terms and conditions of the guarantee are fulfilled, the guarantee The bank's obligation was absolute and independent of the proposed dispute. In the present case, the bank guarantee was unconditional and the buyer (the defendant) was the only judge to decide whether the seller had contracted and fulfilled the terms and conditions of the contract, according to the guarantor guarantee. Gone, the buyer guarantees this on the day of receipt of the written request without any question and without any oral or written reference. The seller's commitment to banks should be free from court interference. No issue of passing a restraining order against the supplier (plaintiff) preventing performance guarantee
Related judgments — Karachi High Court Sindh, 2013
