2018 (6) TMI 1719

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... iod has also MA 521 OF 2018 Rajeev Mannadiar, Resolution Professional Kohinoor Crane Services Vs. Petron Engineering Construction Limited elapsed on 15.09.2017, GAIL India Limited should not be allowed to demand State Bank of India for revocation of the Bank Guarantee. Further, the admitted factual position is that Moratorium has already been commenced vide an Order (supra), therefore, alien .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... Code on 23.03.2018 by appointing Resolution Professional (supra) and pronounced the commencement of Moratorium . 2. This Miscellaneous Application is submitted on 11.06.2018 by the Resolution Professional with a Prayer to stay the invocation of Performance Bank Guarantee and the State Bank of India be estopped from releasing the payment of bearing Bank Guarantee No. 0607012BG2000165 dated 16 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... on 15.09.2017, GAIL India Limited should not be allowed to demand State Bank of India for revocation of the Bank Guarantee. 4.1. Further, the admitted factual position is that Moratorium has already been commenced vide an Order (supra), therefore, alienation of any asset or recovery from any property of the Corporate Debtor is prohibited, hence action of revocation of the Bank Guarantee is a .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X