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Delhi high court sets aside rejection of counter-claim on performance bank guarantee, holds proceeds cannot be retained without proving loss
Delhi High Court overturns rejection of a counter-claim on performance bank guarantee, ruling that proceeds cannot be retained without proven loss. Case Title: Isgec Heavy Engineering Ltd. v. Prakash Industries Ltd. Case No.: O.M.P. (COMM) 503/2023 Coram: Justice Avneesh Jhingan Citation: (2026) ibclaw.in 5219 HC Date of Decision: 08 September 2026 The Delhi High Court has set aside the part of an arbitral award that allowed a purchaser to retain the proceeds of an encashed
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