9911796707
TMI Blog2015 (11) TMI 1696X X X X Extracts X X X X X X X X Extracts X X X X ..... the order dated 20th November, 2015 passed in the Review Petition, the four Stand By Letters of Credit (SLBC) have been extended till 1st June, 2016 by respondent no.5 Bank at the instance of respondent no.6 i.e. Jaiprakash Associates Ltd. The subject four SBLCs have been extended until 1st June 2016. The undertaking of Jaiprakash Associates Limited, recorded in order dated 20th November, 2015 i. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... till such time as the Authority for Advance Ruling Rules on the pending application of FOWC and M/s. Jaiprakash Associates and for further period of eight weeks from the Ruling of the Authority for Advance Ruling. X X X X Extracts X X X X X X X X Extracts X X X X ..... rights and contentions including their rights and contentions in proceedings pending in the British Court filed by the Review Petitioner, the order dated 1st September, 2014 is modified / reviewed as under : (i) The subject four SBLCs have been extended until 1st June 2016. The undertaking of Jaiprakash Associates Limited, recorded in order dated 20th November, 2015 i.e. that the SBLCs will con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Associates Ltd. and their Banker to Review Petitioner FOWC, four weeks prior to the expiry of each SBLC's. (iv) Respondent no.6 i.e. Jaiprakash Associates Ltd. accepts that the SBLCs will continue after expiry of the Race Promotion Contract (RPC) on 31st December, 2015 and FOWC shall be entitled to drawdown upon the SBLCs, notwithstanding expiry of the RPC subject to clause (i) above. (v ..... X X X X Extracts X X X X X X X X Extracts X X X X
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