O.N.G.C. LTD. vs S.B.I., OVERSEAS BRANCH, BOMBAY

The Supreme Court addressed the enforcement of a Bank Guarantee under Order XXXVII CPC, emphasizing that the contractor must provide a guarantee for liquidated damages within the stipulated time. The Court held that the unconditional nature of the Bank's guarantee allows the appellant to encash it without contest from the contractor. The appeal was allowed, affirming the right to enforce the guarantee as per the contract terms.