https://www.taxtmi.com/caselaws?id=299281 The Tribunal held that the application filed by the IRP was maintainable as it did not require prior concurrence of the CoC. The termination of work orders during the moratorium period was deemed to contravene IBC provisions and principles of natural justice, being against the spirit of the law. The invocation of bank guarantees by Respondent No. 1 was declared invalid, with the bank directed to place a lien on their accounts. The Tribunal prohibited any prejudicial actions against the Corporate Debtor without authority approval and deemed any fresh tender awarded as void. The Corporate Debtor was permitted to claim its dues lawfully. en-us Tue, 07 Jan 2020 00:00:00 +0530 Wed, 08 Dec 2021 19:50:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=299281 The Tribunal held that the application filed by the IRP was maintainable as it did not require prior concurrence of the CoC. The termination of work orders during the moratorium period was deemed to contravene IBC provisions and principles of natural justice, being against the spirit of the law. The invocation of bank guarantees by Respondent No. 1 was declared invalid, with the bank directed to place a lien on their accounts. The Tribunal prohibited any prejudicial actions against the Corporate Debtor without authority approval and deemed any fresh tender awarded as void. The Corporate Debtor was permitted to claim its dues lawfully. Case-Laws Companies Law Tue, 07 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=299281