https://www.taxtmi.com/caselaws?id=428184 The appeal challenging the dismissal of the application and allowing the invocation and encashment of Performance Bank Guarantees (PBGs) by the Corporate Debtor was dismissed. The court held that the invocation of PBGs was proper, not subject to the moratorium under Section 14 of the Insolvency and Bankruptcy Code, and found no evidence of fraud. The High Court's order allowing the invocation was deemed final, permitting the Corporate Debtor to utilize the PBG amounts for its operations. en-us Fri, 23 Sep 2022 00:00:00 +0530 Mon, 26 Sep 2022 08:30:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428184 The appeal challenging the dismissal of the application and allowing the invocation and encashment of Performance Bank Guarantees (PBGs) by the Corporate Debtor was dismissed. The court held that the invocation of PBGs was proper, not subject to the moratorium under Section 14 of the Insolvency and Bankruptcy Code, and found no evidence of fraud. The High Court's order allowing the invocation was deemed final, permitting the Corporate Debtor to utilize the PBG amounts for its operations. Case-Laws Insolvency and Bankruptcy Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428184