HC explains on what grounds invocation of a bank guarantee can be restrained

KSE Electricals Pvt. Ltd. Vs Project Director, Bangladesh Rural Electrification Board And Anr (Calcutta High Court) In contemporary business, trade and commercial transactions, both domestic and international, significant complexities are involved; for instance spatial distance between counterparties who engage in such commercial transactions. As such, it is often very difficult and challenging to approximately assess the creditworthiness of the counterparty or the business partner. Hence, over a period of time, commercial instruments have emerged for securing contractual payments. A Bank Guar...