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Judgment Search Results Home > Cases Phrase: contract of indemnity contract Court: kolkata Year: 2009 Page 1 of about 34 results (0.015 seconds)

Jun 30 2009 (HC)

Coventry Spring and Engineering Co. Ltd. Vs. I.C.i.C.i. Bank Ltd.

Court : Kolkata

Decided on : Jun-30-2009

Reported in : [2009]152CompCas68(Cal)

..... be treated as the principal borrower and would repay the entire outstanding dues of the petitioner. the guarantee also contains an indemnity clause. the default clause and the indemnity clause are as under:2. in the event of any default on the part of the borrower in payment/repayment of any ..... corporate guarantee dated august 13, 2001, thereby guaranteeing due repayment of the loans taken by the coil-o-matic. the bank guarantee was an independent contract. it was also an irrecoverable and continuing guarantee. the guarantee contains a default clause by which coventry spring had committed that in the event of ..... the suit had no bearing on the subject-matter of the winding up petition. the submissions with regard to the novation/variation of the contract were rejected. it was also observed by the learned single judge that coventry spring was a party to the reschedule payments ordered by the bifr ..... winding up petition, the icici bank has also filed a petition for winding up against the principal borrower. with regard to the novation of contract, the submission is rejected being factually incorrect. it is observed that the agreement for repayment was entered into by and between the parties under the ..... submissions made by learned counsel for the parties, the learned single judge has held that 'it is well-settled principle of law that a contract of guarantee is an independent cause of action. therefore, the plea that unless and until the icici bank took steps for realisation of the amount .....

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Aug 10 2009 (HC)

Bharat Sanchar Nigam Ltd. and ors. Vs. Kec International Ltd. and ors.

Court : Kolkata

Decided on : Aug-10-2009

..... country.2. on may 1, 2008, the appellant issued a notice inviting tenders (hereinafter referred to as nit) which envisaged planning, designing, engineering, supply, installation, testing, commissioning and annual maintenance contract for 18 million lines of gsm/umts r6 equipments in four parts of bsnl network. the nit is in four parts which are as follows:i) part 1 = covers planning ..... followed. the learned senior counsel further submitted that the interpretation placed on the tender document by bsnl has to be accepted especially in view of the specialized nature of the contract. it is also submitted by the learned senior counsel that the court ought not to exercise its jurisdiction under article 226 of the constitution of india in a contractual matter ..... , 2009 issued by the petitioner company to the chief general manager, kolkata telecom district, would reveal that the petitioners were aware that the cost of spares for the annual maintenance contract had not been deducted from the total price quoted by the petitioner company. paragraph 25(h) of the petition also refers to such matter, though only to demonstrate that the ..... the case of provash chandra dalui (supra) wherein it was held as follows:10. 'ex praecedentibus et consequentibus optima fit interpretatio.' the best interpretation is made from the context. every contract is to be construed with reference to its object and the whole of its terms. the whole context must be considered to ascertain the intention of the parties. it is .....

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Mar 13 2009 (HC)

Adhunik Technology Private Ltd. Vs. Caretel Infotech Ltd. and anr.

Court : Kolkata

Decided on : Mar-13-2009

..... or carried on their business within the territorial jurisdiction of the trial court. according to mr. chatterjee, at this stage, the court should not enter into the question whether the contract was really signed at the office of the defendant no. 2 as the said question is a disputed question of fact. in support of his contention mr. chatterjee strongly relies ..... will be necessary for the plaintiff to prove, if traversed, in order to support his right to judgement in the suit. mr. chatterjee contends that his client alleged that the contract, the violation of which had been alleged, was executed within the jurisdiction of the trial court and thus, at least a part of cause of action accrued within the jurisdiction ..... which otherwise was the obligation of the first defendant and the plaintiff deployed and/or recruited more than 800 members of personnel for smooth operation of the subject matter of contract.k) the plaintiff also applied for and obtained in its name, the necessary sanction and permission from the government of india, ministry of communication and information technology.l) the letter ..... relation to agent and other staff members that were required to be deployed by them for the purpose of execution of the letter of intent. in terms of the said contract for the service to be rendered by the first defendant, the plaintiff was required to pay @ 1.25 paise per billable minute in addition to the service tax applicable.g .....

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Sep 01 2009 (HC)

Hindusthan National Glass and Industries Limited and anr. Vs. Reserve ...

Court : Kolkata

Decided on : Sep-01-2009

..... whether the disputes before it are covered by an arbitration agreement to which the petitioner is a party. for, if the court finds that the grievance canvassed relates to contract qua contract or involves arduous disputes on facts, the court would, in any event, not allow the matter to continue in this extraordinary jurisdiction. in such a case the ..... read to include a debtor in respect of the subject nature of transaction. 127. the consideration here is not whether the reserve bank could have expressly included derivative contracts or intended to include parties engaged in derivative transactions with banks and financial institutions within the expression of willful defaulter in the circular. the more appropriate query is whether ..... the profit and loss account on expiry of the option.' 'equity index/equity futures/equity index/equity options/ embedded derivatives: ... xiii. the marked to market on derivative contracts is determined on a portfolio basis with net unrealised losses being recognised in the profit and loss account. unrealised gains are not recognised in profit and loss account on grounds ..... hereunder. this letter and annexures supercede all our oral and written communication on this subject: limits inr 2,00,00,000/- (rupees two crores only)validity of facility forward contracts: maximum 1 yearderivative : maximum 3 years with 1year break clausedocumentation 7. the borrower to furnish proof ofunderlying exposure which is sought to behedged, in a form acceptable to .....

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Aug 21 2009 (HC)

Bablu Mitra and ors. Vs. State of West Bengal and ors.

Court : Kolkata

Decided on : Aug-21-2009

..... exchange.62. a judgment reported at : (2007) 10 scc 33 (puravankara projects ltd v. hotel venus international) is next placed to demonstrate the distinction between administrative law and contract law and paragraphs 32 and 33 of the report are referred to in furtherance of the contention that the principles of fairness or reasonableness cannot be invoked to alter the ..... the report where the relevant previous pronouncements of the supreme court had been noticed: 9. it is well settled now that the courts can scrutinise the award of the contracts by the government or its agencies in exercise of their powers of judicial review to prevent arbitrariness or favouritism. however, there are inherent limitations in the exercise of the ..... a review of the administrative decision is permitted it will be substituting its own decision, without the necessary expertise, which itself may be fallible. the government must have freedom of contract. in other words, fair play in the joints is a necessary concomitant for an administrative body functioning in an administrative sphere or quasi-administrative sphere. however, the decision must ..... the minimum stipulated diet for any particular hospital or in respect of any particular tender would, ordinarily, be regarded as the highest bidder and entitled to be awarded the contract. the state suggests that this measure adopted would ensure that neither the quality nor the quantity of the diet is compromised and that patients get more than the minimum stipulated .....

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Jul 08 2009 (HC)

Kec International Limited and anr. Vs. Union of India (Uoi) and ors.

Court : Kolkata

Decided on : Jul-08-2009

..... . v. biswanath banerjee and anr.) where the surrounding circumstances have been emphasised:10. 'ex praecedentibus et consequentibus optima fit interpretatio.' the best interpretation is made from the context. every contract is to be construed with reference to its object and the whole of its terms. the whole context must be considered to ascertain the intention of the parties. it is ..... to a conclusion that overwhelming public interest requires interference, the court should interfere.31. the fourth respondent says that the scope of judicial review in the matter of award of contracts by the government or governmental agencies has been recently reviewed in a judgment reported at (2007) 14 scc 517 (jagdish mandal v. state of orissa and ors.) where several ..... 2009 issued by the petitioner company to the chief general manager, kolkata telecom district, would reveal that the petitioners were aware that the cost of spares for the annual maintenance contract had not been deducted from the total price quoted by the petitioner company. paragraph 25(h) of the petition also refers to such matter, though only to demonstrate that the ..... only two issues that have emerged - the quotation of the fourth respondent relating to engine alternators for generator sets and the quotation of the petitioner company for the annual maintenance contract for seven years following the warranty period.5. the value of the work is well in excess of rs. 8000 crore. there has, thus, been an understandable tussle between .....

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Sep 02 2009 (HC)

Omega Shelters Pvt. Ltd. Vs. Unit Construction Co. Pvt. Ltd. and ors.

Court : Kolkata

Decided on : Sep-02-2009

..... , the bank had qualified its liability to pay the amount covered by the guarantee relating to 'advance mobilisation loan' to the executive engineer only if the obligations under the contract were not fulfilled by contractor or the contractor had misappropriated any portion of the 'advance mobilisation loan' and it was in these circumstances that the aforesaid clause would operate and ..... hyderabad or different courts in the state of andhra pradesh. (4) a bank guarantee must be honoured in accordance with its terms and the bank guarantee being an independent contract between the bank and the beneficiary, irrespective of any dispute between the beneficiary and the party at whose instance the bank had given the guarantee, the bank is obliged to ..... aforesaid registered office at new alipore that the plaintiff had been successful in the tender floated by the defendant no. 1 and subsequently, the plaintiff signed and made over formal contract-document to the defendant no. 1. the defendant no. 1 by its letter dated 13th january, 2007 requested the plaintiff to take up preliminaries and for mobilization- action. (d) ..... case made out by the plaintiff may be summed up thus: (a) the plaintiff is engaged in the business relating to construction of infrastructure, real estate, etc. and performed various contracts of national importance in the past including those of various government agencies. (b) the defendant no. 1 was in requirement of construction of 166 villas at gundia, district - ronga .....

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Jul 27 2009 (HC)

Mannan Travels Transport Contractor and ors. Vs. Durgapur Projects Ltd ...

Court : Kolkata

Decided on : Jul-27-2009

..... the same time...the courts can certainly examine whether 'decision-making process' was reasonable, rational, not arbitrary and violative of article 14 of the constitution. 19. if the contract has been entered into without ignoring the procedure which can be said to be basic in nature and after an objective consideration of different options available taking into account the ..... tender of respondents 4, even though they did not satisfy the prescribed condition of eligibility, was clearly discriminatory, since it excluded other persons similarly situate from tendering for the contract and it was also arbitrary and without reason. the acceptance of the tender of respondents 4 was, in the circumstances, invalid as being violative of the equality clause of ..... with standard or norms which is not arbitrary, irrational or irrelevant. the power or discretion of the government in the matter of grant of largesse including award of jobs, contracts, quotas, licences, etc. must be confined and structured by rational, relevant and nondiscriminatory standard or norm and if the government departs from such standard or norm in any ..... consideration of the entire issue the letter of intent had already been issued to respondent no. 4. 16. learned senior counsel further submitted that in the present case the contract is of a purely commercial nature. it involves no public element. therefore, the learned single judge has rightly dismissed the writ petition. the appellants having participated in part four .....

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Jan 16 2009 (HC)

Oriental Insurance Co. Limited and anr. Vs. Madhumita Sarkar and ors.

Court : Kolkata

Decided on : Jan-16-2009

..... about such cancellation. such cancellation subsequent to the death of the insured is of no consequence in the eye of law. section 4 of the indian contract act makes it clear that a revocation is complete as against a person to whom it is made only when it comes to the knowledge of that ..... 2003 was sent by the insurer in the name of the insured after his death. mr. gupta further submits that under section 4 of the indian contract act a revocation becomes complete as against the person to whom it is made only when it comes to his knowledge. there is nothing on record to ..... was sent for the first time on 1.8.2003, i.e. after the death of the insured. mr. gupta further submits that insurance is a contract between two parties, who must be living individuals. proposal, acceptance or revocation must be within the lifetime of the parties. in the present case the letter ..... was whether the policy had been terminated. it was the contention of the respondent that it had power under clause 10 of the policy to terminate the contract and it had duly exercised that power. the appellant denied such contention and stated that a term must be implied in clause 10 that the termination could ..... the insured. it is the contention of mr. bhattacharyya, learned counsel that when there is a contract the court can only examine as to whether the terms of contract was complied with. the words used in the contract are to be accepted. whether there was service of notice/intimation to the insured cannot be decided .....

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Jun 30 2009 (HC)

Shree Krishna Paper Mills and anr. Vs. the West Bengal State Electrici ...

Court : Kolkata

Decided on : Jun-30-2009

..... of sale or lease, appropriate clauses making the vendor/lessor responsible for clearing the electricity dues up to the date of sale/lease and for indemnity in the event they are made liable. be that as it may.49. a comparative study of the electricity supply code under consideration before the ..... opinion of the financial corporation have been properly incurred by it as incidental thereto shall be recoverable from the industrial concern, in the absence of any contract to the contrary, and the money received by it shall be held in trust to be applied firstly in payment of such costs, charges and expenses ..... nor initiate revenue recovery proceedings against a purchaser of a premises for the outstanding electricity dues of the vendor of the premises, in the absence of any contract to the contrary. 47. however, even after so observing, considering sub-clauses (g) and (h) of clause 4.3 of the electricity supply code ..... on the said premises so far as the transferee is concerned and the dues cannot be recovered from him/it. in the absence of any contract the licensee might have entered with the corporation, the former therefore would be at liberty to have the dues recovered from the erstwhile defaulting consumer ..... of the board out of the sale proceeds, that the corporation, while selling the said factory premises and lands, in exercise of its right to contract contrary to the provisions contained in sub-section (4) of section 29 of the sfc act, had made it clear to the intending purchasers that .....

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