Nepal Investment Bank on 9 June won a bank guarantee case against Italian bank Intesa Sanpaolo. In 2018 after the Italian bank issued counter guarantees to NIBL amounting to Rs2.1 billion in favour of Tanahu Hydropower Limited on account of their client Cooperativa Muratori and Cementisti (CMC). Last year NIBL received claim from Tanahu Hydropower Ltd. stating that their client had breached the terms of the contract, leading NIBL to lodge its own claim for bank guarantee.
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