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2017 (8) TMI 1412 - NATIONAL COMPANY LAW TRIBUNAL, NEW DELHICorporate insolvency process - Whether the invocation of corporate guarantee by ICICI Bank which does not conform to the stipulations of the ESL Corporate Guarantee and STA be treated as valid invocation and ICICI Bank be allowed to participate in the COC? - claim for the loan facilities availed by ESL, can the claim lodged by the ICICI Bank be rejected by IRP/RP on the ground that it is already participating in the resolution proceedings, including the COC meetings, initiated in the case of the Principal Borrower i.e. ESL - Held that:- The aforesaid issues are entirely in the domain of the Insolvency Professional and in the midstream, when the process of resolution plan is in progress, it will not be proper to opine either way by this Tribunal. Of course, at the time when the resolution plan comes up for final approval of the Tribunal all such arguments would be available to the parties. In the meanwhile, the Insolvency Professional must exercise her wisdom and discretion particularly when her work is facilitated by moratorium envisaged by Section 14 of the Code which has been in operation. Application not maintainable.
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