Claim Period and Enforcement Period in Bank Guarantees

A 6-minute read by Manasvini Vyas, an NLU-O graduate currently practicing in Mumbai On 28 July 2021, the Delhi High Court in the case of Larsen & Toubro Limited vs. Punjab National Bank passed a landmark ruling clarifying the scope of exception 3 of section 28 of the Indian Contract Act 1872 (ICA). The order passed by a…