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IBC - Highlights / Catch Notes

Home Highlights October 2020 Year 2020 This

Liquidation Proceedings - Invocation of Bank Guarantee - there ...

Insolvency and Bankruptcy

October 15, 2020

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 the applicant - the relief prayed for by the applicant to restrain the Corporate Debtor from invoking Bank Guarantee or to give a direction to the Liquidator to return the Bank Guarantee or to direct the Liquidator to Inform Bank of America that there are no claims against Bank Guarantee, cannot be granted. - Tri

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