https://www.taxtmi.com/caselaws?id=753295 The NCLAT dismissed an appeal challenging a liquidator's rejection of a creditor's claim for refund of Rs. 56.80 lakh paid against bank guarantee invocation and Rs. 16.73 lakh for unpaid invoices. The tribunal held that the resolution professional's invocation of the bank guarantee was wrongful as the creditor had performed contractual obligations without any defect claims. The liquidator must independently assess claims based on documentary evidence, and the adjudicating authority has complete jurisdiction under Section 42 IBC to review liquidator decisions rejecting creditor claims under Section 38 IBC. en-us Tue, 28 May 2024 00:00:00 +0530 Thu, 30 May 2024 07:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=753295 The NCLAT dismissed an appeal challenging a liquidator's rejection of a creditor's claim for refund of Rs. 56.80 lakh paid against bank guarantee invocation and Rs. 16.73 lakh for unpaid invoices. The tribunal held that the resolution professional's invocation of the bank guarantee was wrongful as the creditor had performed contractual obligations without any defect claims. The liquidator must independently assess claims based on documentary evidence, and the adjudicating authority has complete jurisdiction under Section 42 IBC to review liquidator decisions rejecting creditor claims under Section 38 IBC. Case-Laws Insolvency and Bankruptcy Tue, 28 May 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=753295