https://www.taxtmi.com/article/detailed?id=11980 An irrevocable, unconditional bank guarantee given to secure raw-material financing qualifies as a surety excluded from the insolvency moratorium; the guarantor's absolute, on-demand liability permits encashment during CIRP, and the appellate tribunal set aside the adjudicating authority's restraint on invocation after finding the guarantee was not a performance bond but a financial surety. en-us Mon, 23 Oct 2023 10:03:08 +0530 Mon, 23 Oct 2023 10:03:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=11980 An irrevocable, unconditional bank guarantee given to secure raw-material financing qualifies as a surety excluded from the insolvency moratorium; the guarantor's absolute, on-demand liability permits encashment during CIRP, and the appellate tribunal set aside the adjudicating authority's restraint on invocation after finding the guarantee was not a performance bond but a financial surety. Articles Corporate Laws / IBC / SEBI Mon, 23 Oct 2023 10:03:08 +0530 https://www.taxtmi.com/article/detailed?id=11980