Supreme Court Reduces Philips Bank Guarantee to ₹6 Crores

Supreme Court modifies High Court order requiring ₹12.43 crore bank guarantee in Koninklijke Philips N.V. case.
Court reduces bank guarantee amount to ₹6 crores following principle of parity with similar previous case.
Bank guarantee must be furnished within three weeks as unconditional and irrevocable security.
Order automatically revives High Court's ₹12.43 crore requirement if compliance deadline is missed.