https://www.taxtmi.com/caselaws?id=290655 The Tribunal ruled in favor of the Resolution Professional, preventing the State Bank of India from invoking a Performance Bank Guarantee during the moratorium period declared under the Insolvency Code for the Corporate Debtor, M/S. Petron Engineering Construction Limited. The Tribunal held that the revocation of the Bank Guarantee would contravene the provisions of the Insolvency Code and prohibited any alienation of assets during the moratorium. The judgment granted the Miscellaneous Application, directing urgent issuance of a Certified Copy to safeguard the stakeholders' rights. en-us Tue, 12 Jun 2018 00:00:00 +0530 Fri, 09 Oct 2020 10:52:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290655 The Tribunal ruled in favor of the Resolution Professional, preventing the State Bank of India from invoking a Performance Bank Guarantee during the moratorium period declared under the Insolvency Code for the Corporate Debtor, M/S. Petron Engineering Construction Limited. The Tribunal held that the revocation of the Bank Guarantee would contravene the provisions of the Insolvency Code and prohibited any alienation of assets during the moratorium. The judgment granted the Miscellaneous Application, directing urgent issuance of a Certified Copy to safeguard the stakeholders' rights. Case-Laws Insolvency and Bankruptcy Tue, 12 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290655