https://www.taxtmi.com/caselaws?id=444526 The Tribunal allowed the appeal, setting aside the Adjudicating Authority's order that quashed the invocation of Bank Guarantees during the moratorium period. It held that the Bank Guarantee was a contract of guarantee, thus falling under the exception of Section 14(3)(b) of IBC, 2016. Consequently, the moratorium under Section 14(1) does not apply to the encashment of the Bank Guarantee. The appeal was granted with no costs ordered. en-us Mon, 16 Oct 2023 00:00:00 +0530 Tue, 17 Oct 2023 15:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=444526 The Tribunal allowed the appeal, setting aside the Adjudicating Authority's order that quashed the invocation of Bank Guarantees during the moratorium period. It held that the Bank Guarantee was a contract of guarantee, thus falling under the exception of Section 14(3)(b) of IBC, 2016. Consequently, the moratorium under Section 14(1) does not apply to the encashment of the Bank Guarantee. The appeal was granted with no costs ordered. Case-Laws Insolvency and Bankruptcy Mon, 16 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=444526