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Suit 304/2020 Husein Industries Ltd V/S Sui Southern Gas Company Limited others. Sindh High Court, Karachi SHC Citation: SHC-144314 Tag:1. A bank guarantee is an independent contract between the surety (bank) and the creditor (beneficiary of the guarantee), and as such the bank guarantee is to be construed on its own terms independent of the underlying contract between the creditor and the principal debtor, and irrespective of claims pending interse the creditor and principal debtor. Rel: National Construction Ltd. v. Aiwan-e-Iqbal Authority (PLD 1994 SC 311); and Shipyard K. Damen International v. Karachi Shipyard Engineering Works Ltd. (PLD 2003 SC 191). 2. Mobilization Guarantees are generally not subject to a restraining order even if there is a dispute between the parties to the underlying contract. However, in cases of guarantees other than Mobilization Guarantees, the Court have granted or refused injunction to restrain encashment depending upon the literal words used in the guarantee. Rel: National Grid Company v. Government of Pakistan (1999 SCMR 2367); and Shipyard K. Damen International ibid. Bench: Hon'ble Mr. Justice Adnan Iqbal Chaudhry Source: http://shc.gov.pk/caselaw/ Order http://shc.gov.pk/caselaw/hc-link.php?link=220.127.116.11:8056/caselaw/&hash=MTQ0MzE0Y2Ztcy1kYzgz
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