https://www.taxtmi.com/caselaws?id=397631 Amounts realised under a bank guarantee furnished at the request of the corporate debtor for securing its liability were treated as part of the corporate debtor's assets during insolvency, not as an independent security interest in favour of the financial creditor. The insolvency framework and moratorium required the amount to remain under the control of the resolution professional for administration in the resolution process or liquidation, because it was linked to the creditor's admitted claim and the debtor's underlying obligation. The contrary finding was set aside. en-us Wed, 22 Jan 2020 00:00:00 +0530 Tue, 25 Aug 2020 13:43:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=397631 Amounts realised under a bank guarantee furnished at the request of the corporate debtor for securing its liability were treated as part of the corporate debtor's assets during insolvency, not as an independent security interest in favour of the financial creditor. The insolvency framework and moratorium required the amount to remain under the control of the resolution professional for administration in the resolution process or liquidation, because it was linked to the creditor's admitted claim and the debtor's underlying obligation. The contrary finding was set aside. Case-Laws Insolvency and Bankruptcy Wed, 22 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=397631