Discontinuation of bank guarantee permitted due to prolonged ...

Prolonged litigation allows discontinuation of bank guarantee, enabling refund after two decades of prejudice.

Case Laws Customs

September 19, 2024

Discontinuation of bank guarantee permitted due to prolonged litigation without resolution, causing prejudice to appellant deprived of substantial amount subject to guarantee for over two decades. Impugned order set aside, appellant allowed to discontinue guarantee upon filing undertaking affidavit within two weeks, enabling refund of guarantee amount. Appeal allowed.

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Discontinuation of bank guarantee permitted due to prolonged ...

Prolonged litigation allows discontinuation of bank guarantee, enabling refund after two decades of prejudice.

Case Laws Customs

September 19, 2024

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