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Banking & Finance
Broader Implications Of The Supreme Court’s Pandurang Judgment on Co-operative Banks
A version of this article was published on LiveLaw.in on May 26, 2020, and can be accessed here In a judgment pronounced by a five judge bench in the case of Pandurang Ganpati Chaugule v. Vishwasrao Patil Murgud Sahakari Bank Limited [Supreme Court Civil Appeal No. 5674 of 2009] ("Pandurang”), the apex court has ruled that Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (“SARFAESI”) is, in fact, applicable on Co-operative B
8 min read
Banking on Force Majeure: Honouring Bank Guarantees in Times of a Pandemic
A version of this article was published on the popular blawg, IndiaCorpLaw, on April 28, 2020, and can be accessed here “Banks deal with documents and not with goods, services or performance to which the documents may relate” -Article 5 of the ICC Uniform Customs and Practice for Documentary Credits The existence of commercial laws is predicated upon a need to supplement trust, or the lack thereof, between parties entering into contracts. Amongst the galaxy of examples whic
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