https://www.taxtmi.com/caselaws?id=430275 The tribunal held that the Successful Resolution Applicant (SRA) was not liable to pay for live bank guarantees invoked before the "Transfer Date" as per the Resolution Plan terms. The Resolution Plan specified that payment for invoked bank guarantees would only apply post "Transfer Date." The tribunal emphasized adherence to the Resolution Plan terms and defined dates. Citing relevant legal precedents, the tribunal dismissed the appeal, ruling the SRA was not obligated to pay the pre-"Transfer Date" invoked guarantees, stating surprise claims not in the Plan were not enforceable against the SRA. No costs were awarded. en-us Mon, 14 Nov 2022 00:00:00 +0530 Tue, 15 Nov 2022 10:22:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=430275 The tribunal held that the Successful Resolution Applicant (SRA) was not liable to pay for live bank guarantees invoked before the "Transfer Date" as per the Resolution Plan terms. The Resolution Plan specified that payment for invoked bank guarantees would only apply post "Transfer Date." The tribunal emphasized adherence to the Resolution Plan terms and defined dates. Citing relevant legal precedents, the tribunal dismissed the appeal, ruling the SRA was not obligated to pay the pre-"Transfer Date" invoked guarantees, stating surprise claims not in the Plan were not enforceable against the SRA. No costs were awarded. Case-Laws Insolvency and Bankruptcy Mon, 14 Nov 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=430275