Certainly. Below is the case-law reference list without external links. You can use these citations directly in your legal research, assignment or dissertation.

Important Indian Case Laws on Failure to Enforce Indemnities Against Counterparties

1. Gajanan Moreshwar Parelkar v. Moreshwar Madan Mantri, AIR 1942 Bom 302; (1942) 44 Bom LR 703.

Court: Bombay High Court.

Principle: An indemnity-holder need not necessarily make actual payment before enforcing an indemnity where the liability has become absolute.

Relevance: Establishes the equitable right to enforce indemnity before actual payment.

2. State Bank of India v. Mula Sahakari Sakhar Karkhana Ltd., (2006) 6 SCC 293; AIR 2007 SC 2361.

Court: Supreme Court of India.

Principle: The nature of an instrument must be determined from its actual contractual terms. An indemnity cannot automatically be treated as an unconditional bank guarantee.

Relevance: Explains the distinction between indemnity and bank guarantee.

3. Union of India v. Raman Iron Foundry, (1974) 2 SCC 231; AIR 1974 SC 1265.

Court: Supreme Court of India.

Principle: A mere claim for unliquidated damages does not automatically constitute a debt presently due and payable.

Relevance: Relevant to disputes concerning the crystallisation and recovery of contractual liabilities.

4. New India Assurance Co. Ltd. v. Kusumanchi Kameshwara Rao, (1997) 9 SCC 179.

Court: Supreme Court of India.

Principle: The written terms of the relevant contractual instrument are important in determining the parties' obligations.

Relevance: Highlights the importance of precise contractual drafting and documentary evidence.

Relevant Statutory Provisions

Central judicial authority: Gajanan Moreshwar Parelkar v. Moreshwar Madan Mantri is particularly important for understanding the enforceability of indemnity obligations under Indian law, especially where liability has become absolute but actual payment has not yet been made.