https://www.taxtmi.com/caselaws?id=448061 The NCLAT dismissed an appeal regarding wrongful invocation of bank guarantee by a concessionaire after agreement termination. The Adjudicating Authority had granted leave to the liquidator to proceed in arbitration against the concessionaire, including claims for wrongful guarantee invocation, and correctly directed deletion of the respondent's name from the Section 66 application under the Insolvency Code. The tribunal granted liberty to file a fresh Section 66 application if circumstances arise after the arbitrator's decision that would oblige such action. en-us Wed, 10 Jan 2024 00:00:00 +0530 Thu, 11 Jan 2024 09:21:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448061 The NCLAT dismissed an appeal regarding wrongful invocation of bank guarantee by a concessionaire after agreement termination. The Adjudicating Authority had granted leave to the liquidator to proceed in arbitration against the concessionaire, including claims for wrongful guarantee invocation, and correctly directed deletion of the respondent's name from the Section 66 application under the Insolvency Code. The tribunal granted liberty to file a fresh Section 66 application if circumstances arise after the arbitrator's decision that would oblige such action. Case-Laws Insolvency and Bankruptcy Wed, 10 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448061