https://www.taxtmi.com/caselaws?id=768721 NCLAT upheld the adjudicating authority's rejection of a Section 7 application filed by a financial creditor as barred by Section 10A of the Insolvency and Bankruptcy Code, 2016. The tribunal found that IDBI Bank's invocation of guarantee on 05.03.2021 fell within the Section 10A moratorium period, making the application time-barred. The court analyzed guarantee deed clauses and determined that default occurred only upon guarantee invocation, not earlier. While affirming the dismissal, NCLAT granted liberty to the appellant to file a fresh Section 7 application for any default occurring after the Section 10A period ended on 24.03.2021. en-us Mon, 07 Apr 2025 00:00:00 +0530 Sat, 12 Apr 2025 08:39:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768721 NCLAT upheld the adjudicating authority's rejection of a Section 7 application filed by a financial creditor as barred by Section 10A of the Insolvency and Bankruptcy Code, 2016. The tribunal found that IDBI Bank's invocation of guarantee on 05.03.2021 fell within the Section 10A moratorium period, making the application time-barred. The court analyzed guarantee deed clauses and determined that default occurred only upon guarantee invocation, not earlier. While affirming the dismissal, NCLAT granted liberty to the appellant to file a fresh Section 7 application for any default occurring after the Section 10A period ended on 24.03.2021. Case-Laws IBC Mon, 07 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768721