Bank Guarantee in Insolvency Proceeding Invoked; Section 14(3)(b) IBC Exception Applies, Moratorium Doesn't Block Encashment.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Invocation of Bank Guarantee allowing the Application of the Resolution Professional - Performance Bank Guarantee or not - as per the facts of this case, the Bank Guarantee, provided by the Respondent No. 2/Bank is held to be covered by the exception provided in provisions of Section 14(3)(b) of IBC, 2016, and the Moratorium prescribed under Section 14(1) of IBC, 2016, shall not apply to its Encashment. - AT....