Liquidator's special powers in liquidation process clarified. Adjudicating Authority upholds refund of BG amount.

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....The case involves liquidation of a corporate debtor where a creditor sought refund of an amount with interest paid to prevent invocation of their Bank Guarantee. The liquidator, u/s 36 of IBC, manages the liquidation estate for creditors' benefit and verifies claims u/s 35. Liquidator must issue public announcement for claims submission. Creditor can appeal rejected claims to Adjudicating Authority. Liquidator determines claim value for asset distribution. Corporate debtor's wrongful invocation of BG led to creditor's claim. Adjudicating Authority, u/s 42, upheld creditor's right to refund and directed liquidator to accept claims. Decision affirmed, appeal dismissed.....