https://www.taxtmi.com/caselaws?id=768464 NCLAT ruled that amount deposited by guarantors with bank during liquidation process forms part of liquidation estate and must be distributed per waterfall mechanism under Section 53 IBC. Bank had already relinquished security interest and filed admitted claim but improperly received direct payment from guarantors without liquidator's knowledge. Court found bank failed to prove amount wasn't corporate debtor's asset, noting balance sheet reduction during liquidation indicated use of trade receivables/payments. Appeal allowed; amount ordered refunded to liquidation account for proper distribution. en-us Wed, 02 Apr 2025 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768464 NCLAT ruled that amount deposited by guarantors with bank during liquidation process forms part of liquidation estate and must be distributed per waterfall mechanism under Section 53 IBC. Bank had already relinquished security interest and filed admitted claim but improperly received direct payment from guarantors without liquidator's knowledge. Court found bank failed to prove amount wasn't corporate debtor's asset, noting balance sheet reduction during liquidation indicated use of trade receivables/payments. Appeal allowed; amount ordered refunded to liquidation account for proper distribution. Case-Laws IBC Wed, 02 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768464