https://www.taxtmi.com/caselaws?id=468046 A direction requiring reconciliation of work done by the corporate debtor and payment within a fixed time was found to exceed the Adjudicating Authority's scope, since contractual disputes could not be adjudicated in that forum and the order conflicted with the earlier position on invocation of the performance bank guarantee. The consequent status quo restraint on invoking the bank guarantee also failed because it depended entirely on the unsustainable reconciliation direction and had no independent basis. Both impugned orders were therefore set aside, and the appellant obtained relief in both appeals. en-us Tue, 06 Aug 2024 00:00:00 +0530 Tue, 14 Apr 2026 21:12:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=468046 A direction requiring reconciliation of work done by the corporate debtor and payment within a fixed time was found to exceed the Adjudicating Authority's scope, since contractual disputes could not be adjudicated in that forum and the order conflicted with the earlier position on invocation of the performance bank guarantee. The consequent status quo restraint on invoking the bank guarantee also failed because it depended entirely on the unsustainable reconciliation direction and had no independent basis. Both impugned orders were therefore set aside, and the appellant obtained relief in both appeals. Case-Laws IBC Tue, 06 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=468046