https://www.taxtmi.com/caselaws?id=778985 HC dismissed the appeal and upheld the Single Judge's judgment, finding no actionable fraud or legal irregularity by the creditor who filed a Section 7 IBC application that remained unadmitted and was ultimately dismissed as infructuous. The Court held the revocation of the IPLOI and invocation of the unconditional bank guarantee complied with contractual terms, noting the guarantee is independent, irrevocable and payable on demand absent egregious fraud or injustice. Claim of wrongful invocation or requirement of executed definitive agreements was rejected; appellants not entitled to refund. en-us Thu, 25 Sep 2025 00:00:00 +0530 Fri, 26 Sep 2025 08:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778985 HC dismissed the appeal and upheld the Single Judge's judgment, finding no actionable fraud or legal irregularity by the creditor who filed a Section 7 IBC application that remained unadmitted and was ultimately dismissed as infructuous. The Court held the revocation of the IPLOI and invocation of the unconditional bank guarantee complied with contractual terms, noting the guarantee is independent, irrevocable and payable on demand absent egregious fraud or injustice. Claim of wrongful invocation or requirement of executed definitive agreements was rejected; appellants not entitled to refund. Case-Laws IBC Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778985