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2022 (2) TMI 252 - AT - Insolvency and BankruptcyRefusal of the Bank to invoke the Bank Guarantee - Adjudicating Authority has taken the view that since CIRP proceedings were continuing the Bank Guarantee cannot be invoked - HELD THAT:- The Appellant was clearly entitled for invocation of Bank Guarantee, hence, we remit the matter back to the Adjudicating Authority to pass appropriate orders with regard to claim of the Appellant to the amount to ₹ 19 Lakhs as included in the Bank Guarantee. Appropriate orders be passed by the Adjudicating Authority in accordance with law. Appeal allowed.
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