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What is a Bank Guarantee? Nature of of a Bank Guarantee. How to stop the invocation of Bank Guarantee?

WHAT IS A BANK GUARANTEE  ? A Bank Guarantee is “the common mode, of securing payment of money in commercial dealings as the beneficiary, under the Guarantee, is entitled to realise the whole of the amount under that Guarantee in terms thereof irrespective of any pending dispute between the person on whose behalf the Guarantee was given and the beneficiary.  In contracts awarded to private individuals by the Government, which involve huge expenditure, as, for example, construction contracts, Bank Guarantees are usually required to be furnished in favour of the Government to secure payments made to the contractor as "Advance" from time to time during the course of the contract as also to secure 'performance' of the work entrusted under the contract.  Such Guarantees are executable in terms thereof on the lapse of the contractor either in the performance of the work or in paying back to the "Government Advance", the Guarantee is invoked and the amount is recov...
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Commercial Suit under Commercial Courts Act, 2015 and transfer of pending commercial disputes

What is a Commercial Suit? A suit for the redressal of the commercial dispute of specified value/high value is a commercial suit. What is a commercial dispute? Commercial dispute is defined in Section 2 (1)(c) of the commercial courts act, 2015. A dispute relating to immovable property per se may not be a commercial dispute. But it becomes a commercial dispute, if it falls under Sub-clause (vii) of Section 2(1)(c) of the Act viz. "the agreements relating to immovable property used exclusively in trade or commerce". The words "used exclusively in trade or commerce" are to be interpreted purposefully. The word "used" denotes "actually used" and it cannot be either "ready for use" or "likely to be used" or "to be used". It should be "actually used". Ambalal Sarabhai Enterprises Limited—vs—KS Infraspace LLP and Another, [2020 15 scc 585] Where is it filed? It is filed in the Commercial Court. For a sui...
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RELATIVES CANNOT BE CHARGED UNDER SECTION 498-A OF IPC- A study

  Relatives cannot be charged under section 498-A OF IPC. pic art -iamashar. RELATIVES CANNOT BE CHARGED UNDER SECTION 498-A OF Indian Penal Code, 1860. False and frivolous  legal cases against relatives of the husband can cause huge amounts of stress, anxiety, and financial burden on those individuals. In some cases, the lawsuits may be motivated by greed, revenge, or some other malicious intent, and can ultimately ruin the relationships and life. However, it is important to note that anyone can file a false case against someone else. The legal system allows for grievances to be, it may also strain the relationship and welfare of the children. It is important to note that frivolous cases are not only illegal but also unethical. They waste the time and resources of the court and can harm the reputation of the person or party being sued. If there are genuine legal issues that need to be addressed, it is always advisable to approach the situation in a sensible, civil, and lawful...
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