ICICI BANK LTD Vs. TATA INTERNATIONAL LTD

JUDGEMENT

(1.) Whether a bank guarantee valid for 90 days, can be invoked on the 91st day, if the 90th day happens to be a public holiday or a Sunday is the question raised in this appeal.

(2.) The learned Single Judge, primarily relying upon the judgment of the Apex Court in the case of HUDA V/s. Dr. Babeswar Kanhar reported in (2005) 1 SCC 191 answered the above question in the affirmative. Challenging the aforesaid decision, the present appeal is filed.

(3.) In the present case, on 13-3-1978, the Appellant - Bank had executed a performance guarantee on behalf of M/s.Vishal International, Bombay, in favour of the respondent for US$ 9000. The said guarantee was conditional and was valid for 90 days.