 "Bombay High Court allows IATA to encash Cox & Kings bank guarantees")
The Bombay High Court has allowed the International Air Transport Association (IATA) to encash bank guarantees provided by tour operator Cox & Kings. The court vacated its interim stay on invocation of bank guarantee on Wednesday after the tour operator withdrew its commercial arbitration petition challenging IATA's action.
Last month IATA suspended Cox & Kings from selling airline tickets on credit after it defaulted on commercial paper payments. The tour operator moved the Bombay High Court earlier in the month and secured an interim relief against invocation of bank guarantees. Its sister concern ezeego1 also moved the court on similar grounds
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