https://www.taxtmi.com/caselaws?id=413799 The Tribunal held that the invocation of bank guarantees during the moratorium period violated the Insolvency and Bankruptcy Code. The guarantees were deemed financial, not performance guarantees, as per RBI guidelines and the agreement terms. NSIC's actions were found to contravene the moratorium provisions, leading to the quashing of the invocation notices. The judgment stressed that claims cannot be paid twice, even if presented by different entities. en-us Wed, 25 Aug 2021 00:00:00 +0530 Thu, 21 Oct 2021 08:17:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413799 The Tribunal held that the invocation of bank guarantees during the moratorium period violated the Insolvency and Bankruptcy Code. The guarantees were deemed financial, not performance guarantees, as per RBI guidelines and the agreement terms. NSIC's actions were found to contravene the moratorium provisions, leading to the quashing of the invocation notices. The judgment stressed that claims cannot be paid twice, even if presented by different entities. Case-Laws Insolvency and Bankruptcy Wed, 25 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413799