https://www.taxtmi.com/caselaws?id=432801 The Tribunal dismissed the appeal, ruling that an irrevocable and unconditional Bank Guarantee can be invoked during the moratorium period under Section 14(3)(b) of the Insolvency and Bankruptcy Code. The Tribunal found no merit in arguments related to the strict construction of the Bank Guarantees, alleged new arrangements between parties, and fraud allegations. The findings of the Arbitral Tribunal regarding the encashment of the Bank Guarantees were upheld, and the appeal was dismissed without any order as to costs. en-us Tue, 10 Jan 2023 00:00:00 +0530 Fri, 13 Jan 2023 17:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432801 The Tribunal dismissed the appeal, ruling that an irrevocable and unconditional Bank Guarantee can be invoked during the moratorium period under Section 14(3)(b) of the Insolvency and Bankruptcy Code. The Tribunal found no merit in arguments related to the strict construction of the Bank Guarantees, alleged new arrangements between parties, and fraud allegations. The findings of the Arbitral Tribunal regarding the encashment of the Bank Guarantees were upheld, and the appeal was dismissed without any order as to costs. Case-Laws Insolvency and Bankruptcy Tue, 10 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432801