Sergi
SENIOR MEMBER
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- Apr 7, 2012
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reply only if you have a valid thing to say. Oerwise just ignore me and I woll do the same.Even DK Joshi was not on the submarine when the batteries blew.
Logic !!! SOP. A standing case and its evideance are good enough to say termes are breached. Otherwise company would never afree for arbitration and whold have taken GOI in court.It was illegal and against ones logic to terminate the contract before the joint team of the CBI, Ministry of Defence and External Affairs came to a conclusion on their investigation.
The money has been routed through Tunisia, they know the money trail but no names have figured out officially.
The important point here is that saint should have waited till the end of the investigation, and not tugged his lungi so early. Its a long battle ahead. Even if they managed to get the money back, it will be years from now.
Source for the claim please. I will agree. My knowledge is otherwise.Both the parties have to keep some money as BG, Its not just the seller as you think. India already encashed the 39 million that the company kept in the Indian bank. This battle is for the Indian money that GOI deposited in the Italian bank.
I know that. We are talking here specifically. Please provide a source that India have given BG.Here India gave a BG to that company, it is like a booking amount or a guarantee of payment against the purchase order that India has placed with that company, if India fails to purchase the products as per the terms & conditions for any reason that is not covered under the contract, that company can cash the BG.
A BG can be asked either by the seller or by the buyer depending upon the type of the deal and the terms of the contract. For example, if I am a manufacturer or a seller of a product that you want to buy, I may ask you to give me a BG before I manufacture or ship the product to you. In case of most international trade deals sellers ask for a BG from the buyer before shipping the product.
If so all we need was to withdraw it not cash it. Cashing a BG means claiming the amount. Open to correction. Give the source