https://www.taxtmi.com/caselaws?id=415523 Termination of two work orders was examined against a provisional extension letter, a government order extending contractual time for non-defaulting contractors, and the Insolvency and Bankruptcy Code. The tribunal noted that the contractor had already defaulted before the relevant cut-off date and had shown persistent non-performance, so the terminations were not contrary to the extension regime. It also held that the disputes arose from breach of commercial contracts and had no real nexus with the insolvency resolution process, so insolvency protections could not be used to restrain termination. Once the terminations were treated as lawful, the challenge to invocation of the bank guarantees also failed. en-us Mon, 06 Dec 2021 00:00:00 +0530 Wed, 08 Dec 2021 08:56:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=415523 Termination of two work orders was examined against a provisional extension letter, a government order extending contractual time for non-defaulting contractors, and the Insolvency and Bankruptcy Code. The tribunal noted that the contractor had already defaulted before the relevant cut-off date and had shown persistent non-performance, so the terminations were not contrary to the extension regime. It also held that the disputes arose from breach of commercial contracts and had no real nexus with the insolvency resolution process, so insolvency protections could not be used to restrain termination. Once the terminations were treated as lawful, the challenge to invocation of the bank guarantees also failed. Case-Laws Insolvency and Bankruptcy Mon, 06 Dec 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=415523