FENNER (I) LTD vs PUNJAB & SIND BANK — C.A. No. 4613/1997

The Supreme Court allowed Fenner (India) Ltd.'s appeal against Punjab and Sind Bank, holding that Fenner was entitled to invoke the bank guarantee for Rs. 20,00,000 actually advanced to Vijay Exports, despite not advancing the full agreed amount of Rs. 30,00,000. The Court interpreted "upto thirty lakhs" in the guarantee deed to mean the guarantee covers whatever amount is actually advanced and not repaid, rejecting the bank's argument that full advance was a precondition for invoking the guarantee. This case analysis is maintained by casestatus.in based on publicly available court records.