https://www.taxtmi.com/caselaws?id=390980 An independent bank guarantee furnished under consent orders and later encashed was held outside the insolvency moratorium because it was not treated as execution against the corporate debtor's assets and the statutory exclusion for sureties applied. The prior order directing encashment had attained finality, and the pending challenge to the arbitral award did not make the company application non est. The release of the realized amount to the applicant was therefore maintainable under section 14(1), subject to an undertaking to repay with interest if required in the pending section 34 proceedings. en-us Thu, 02 Jan 2020 00:00:00 +0530 Thu, 16 Jan 2020 14:20:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=390980 An independent bank guarantee furnished under consent orders and later encashed was held outside the insolvency moratorium because it was not treated as execution against the corporate debtor's assets and the statutory exclusion for sureties applied. The prior order directing encashment had attained finality, and the pending challenge to the arbitral award did not make the company application non est. The release of the realized amount to the applicant was therefore maintainable under section 14(1), subject to an undertaking to repay with interest if required in the pending section 34 proceedings. Case-Laws Insolvency and Bankruptcy Thu, 02 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=390980