IBC - The moratorium order passed by this Tribunal applies in ...

Tribunal Rules Moratorium Blocks Invocation of Non-Performance Bank Guarantees Under Insolvency Code.

March 7, 2018

Case Laws Insolvency and Bankruptcy Tri

IBC - The moratorium order passed by this Tribunal applies in respect of Bank Guarantees other than Performance Guarantees furnished by the Corporate Debtor in respect of its property since it comes within the meaning of ‘security interest’. Respondent No. 1 is not entitled to invoke Bank Guarantees other than that comes within the meaning of performance Guarantees, during Moratorium period. - Tri

View Source

← Previous Next →

IBC - The moratorium order passed by this Tribunal applies in ...

Tribunal Rules Moratorium Blocks Invocation of Non-Performance Bank Guarantees Under Insolvency Code.

March 7, 2018

Case Laws Insolvency and Bankruptcy Tri

You may also like:

Invocation and encashment of Performance Bank Guarantee(s) (PBG) granted by the Appellant - surety in a contract of guarantee to a ‘Corporate Debtor’ - A Performance...

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...

Invocation of performance guarantee - CIRP proceedings - the Adjudicating Authority passed the Order that “the performance guarantee given by the bankers on behalf of...

NCLAT upheld dismissal of Section 7 application as barred under Section 10A of IBC, 2016. The tribunal found that IDBI Bank's guarantee invocation on 05.03.2021 falls...

The NCLAT upheld the legality of invoking a Performance Bank Guarantee (PBG) by the Nominated Authority during the moratorium period. It relied on the Supreme Court's...

Non-compliance with submission of Performance Bank Guarantee by the Appellant as per the Request for Resolution Plan's clause obliging the Resolution Applicant to...

The Appellate Tribunal held that the Performance Bank Guarantee could be invoked during the moratorium period u/s 14 of IBC. Referring to a Supreme Court case, it...

Liquidation Proceedings - Invocation of Bank Guarantee - there is no material to show that any fraud was played by the Corporate Debtor in obtaining Bank Guarantee from...

Encashment of Bank Guarantees during CIRP period - scope of moratorium u/s 14 of IBC - If bank guarantee is beyond the mentioned amount in the bank guarantee, if the...

CIRP - Seeking restraint/ injunction on the Respondents from encashing or appropriating the Performance Bank Guarantee - The Resolution Plan has been approved with the...

Refusal 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...

IBC - Invoking Bank Guarantee - Corporate Debtor has issued bank guarantee for ensuring the price of goods. The bank guarantee is irrevocable and unconditional and...

NCLAT determined that invocation of corporate guarantee after CIRP commencement is impermissible under Section 14 IBC moratorium provisions. The corporate guarantee was...

The NCLAT held that the moratorium u/s 14 of the IBC shall not impede the invocation of an irrevocable bank guarantee, which is an independent and separate contract...

Maintainability of petition seeking initiation of CIRP against Personal Guarantor/Respondent - invocation of Bank guarantee and time limitation - The case involved an...

Quick Updates: