https://www.taxtmi.com/caselaws?id=399416 The Tribunal rejected the Applicant's plea for an injunction against the invocation of Bank Guarantees, stating that the moratorium under Section 14 does not apply to Performance Bank Guarantees. The Tribunal held that the invocation of such guarantees is permissible and cannot be restrained by the NCLT. The Tribunal directed that any surplus amount from the invocation should be kept in an escrow account and dealt with as per the orders of a competent court. The Tribunal disposed of the application accordingly. en-us Mon, 05 Oct 2020 00:00:00 +0530 Fri, 09 Oct 2020 19:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399416 The Tribunal rejected the Applicant's plea for an injunction against the invocation of Bank Guarantees, stating that the moratorium under Section 14 does not apply to Performance Bank Guarantees. The Tribunal held that the invocation of such guarantees is permissible and cannot be restrained by the NCLT. The Tribunal directed that any surplus amount from the invocation should be kept in an escrow account and dealt with as per the orders of a competent court. The Tribunal disposed of the application accordingly. Case-Laws Insolvency and Bankruptcy Mon, 05 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399416