https://www.taxtmi.com/caselaws?id=418001 The Appellate Tribunal allowed the appeal, overturning the Adjudicating Authority's decision and granting relief to the Appellant for the payment claim under the Bank Guarantee. The Tribunal held that the Bank Guarantee could be invoked during the moratorium period in the Corporate Insolvency Resolution Process (CIRP), emphasizing its irrevocable and unconditional nature. The matter was remitted back for appropriate orders regarding the claim of Rs. 19 Lakhs included in the Bank Guarantee, with the Resolution Professional's pending approval of the Resolution Plan noted. en-us Thu, 03 Feb 2022 00:00:00 +0530 Sun, 06 Feb 2022 15:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418001 The Appellate Tribunal allowed the appeal, overturning the Adjudicating Authority's decision and granting relief to the Appellant for the payment claim under the Bank Guarantee. The Tribunal held that the Bank Guarantee could be invoked during the moratorium period in the Corporate Insolvency Resolution Process (CIRP), emphasizing its irrevocable and unconditional nature. The matter was remitted back for appropriate orders regarding the claim of Rs. 19 Lakhs included in the Bank Guarantee, with the Resolution Professional's pending approval of the Resolution Plan noted. Case-Laws Insolvency and Bankruptcy Thu, 03 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418001