https://www.taxtmi.com/caselaws?id=282716 The Tribunal dismissed OBC's claim, finding merit in the RP's application regarding premature cancellation of fixed deposit receipts and rejection of OBC's claim. The Tribunal emphasized compliance with the Insolvency and Bankruptcy Code, ruling that the invocation of bank guarantees by OBC was invalid. The judgment highlighted the prohibition on withdrawing cash from the Corporate Debtor's accounts post-CIRP initiation. Costs were awarded to the RP, with the Tribunal referencing legal precedents to support its decision. en-us Thu, 25 Apr 2019 00:00:00 +0530 Tue, 20 Aug 2019 20:40:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=282716 The Tribunal dismissed OBC's claim, finding merit in the RP's application regarding premature cancellation of fixed deposit receipts and rejection of OBC's claim. The Tribunal emphasized compliance with the Insolvency and Bankruptcy Code, ruling that the invocation of bank guarantees by OBC was invalid. The judgment highlighted the prohibition on withdrawing cash from the Corporate Debtor's accounts post-CIRP initiation. Costs were awarded to the RP, with the Tribunal referencing legal precedents to support its decision. Case-Laws Insolvency and Bankruptcy Thu, 25 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=282716