Delivery of the amount for transmission to the bank created ex facie a relationship of a fiduciary character: New Bank of India v/s Pearey Lal (1962).

CaseNew Bank of India Ltd. v Pearey Lal, AIR 1962 SC 1003
CourtBefore the Supreme Court of India
Case NoCivil Appeal No 398 of 1960
BenchChief Justice Bhuvaneshwar Prasad Sinha, Justice JL Kapur, justice M Hidayatullah, Justice JC Shah and Justice JR Mudholkar
Author of the judgementJustice JC Shah
Decided OnDecember 20, 1961
Advocates for the appellantVeda Vyasa, Senior Advocate ( SK Kapur and BP Maheshwari, Advocates, with him)
Advocate for the respondentKL Gosain, Senior Advocaate (KL Mehta, Advocate, with him)
Author of the briefAditya Gor
KeywordsBanking, Trustee, Fiduciary Relations, Debtor-Creditor Relations.

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Central Coalfields Limited & Anr V. SLL-SML(Joint venture Consortium) & Ors(2016): The party issuing the tender has the right to punctiliously and rigidly enforce the terms of the tender.

Case Central Coalfields Limited and Another V. SLL-SML(Joint venture Consortium) and Others.
CourtBefore the Supreme Court of India
BenchJustice Madan B. Lokur, Justice R.K. Agarwal
Author of the JudgementJustice Madan B Lokur.
Decided onAugust 17, 2016.
AbstractIn the present case, the appellants invited tenders and prescribed that the bank guarantee should be given in the specified format. The respondent SLL-SML had not adhered to the format specified and thus their bid was rejected. It was contended by the respondent SLL-SML that the format was ambiguous and vague. The division bench of the High Court allowed the appeal, which was subsequently set aside by the Supreme Court of India. According to the Supreme Court if the employer specifies a certain format then the submission should be made in that format only and no other format should be adhered to.
Author of briefAditya Gor
KeywordsBank Guarantee, Professional Responsibility, Tender, Joint Venture, Digital Signature Certificate.

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