Pledge Agreement does not constitute guarantee under section 126 of India Contract Act: Supreme Court
Case: Phoenix Arc Private Limited versus Ketulbhai Ramubhai Patel Introduction: Recently, the Honorable Supreme Court of India, in the case of Phoenix Arc Private Limited versus Ketulbhai Ramubhai Patel, had to decide whether a pledge agreement constitutes a guarantee under section 126 of the Indian Contract Act, 1872, (“Act”). This