https://www.taxtmi.com/caselaws?id=431501 The petition filed by a suspended Director challenging a show cause notice from a coal supplier regarding a Fuel Supply Agreement was deemed maintainable by the Delhi High Court. The court upheld its territorial jurisdiction despite the supplier's objections. The court affirmed the applicability of the moratorium under Section 14 of the IBC, preventing the forfeiture of the security deposit. Additionally, the court directed banks not to enforce the invocation of bank guarantees until a specified date, pending further NCLT proceedings. en-us Fri, 09 Dec 2022 00:00:00 +0530 Thu, 15 Dec 2022 09:30:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431501 The petition filed by a suspended Director challenging a show cause notice from a coal supplier regarding a Fuel Supply Agreement was deemed maintainable by the Delhi High Court. The court upheld its territorial jurisdiction despite the supplier's objections. The court affirmed the applicability of the moratorium under Section 14 of the IBC, preventing the forfeiture of the security deposit. Additionally, the court directed banks not to enforce the invocation of bank guarantees until a specified date, pending further NCLT proceedings. Case-Laws Insolvency and Bankruptcy Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431501