Supreme Court of India
M/s. Reliance Salt Ltd. v. M/s. Cosmos Enterprises and Anr.
INSC stands for INDIAN SUPREME COURT. A neutral citation scheme assigned by the Court itself, so a judgment can be cited without depending on a commercial law reporter. INSC is the neutral citation scheme assigned by the Supreme Court, so a judgment can be cited without depending on a commercial law reporter.
From the headnote
Contract Act, 1872-ss. 126 and 17-Agreement of consignment Bank Guarantee-Invocation of, by Principal company on non-settlement of bills by consignment agent within stipulated period-Suit for injunction restraining Principal Company from invoking Bank Guarantee by consignment agent, pleading case of fraud-Courts below holding invocation of Bank Guarantee vitiated by fraud-Correctness of-Held: Bank Guarantee constitutes agreement between Banker and Principal, though, at instance of promisor-On invocation of bank guarantee, bank is to plead case of fraud and not the promisor-consignment
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