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IBC - Highlights / Catch Notes

Home Highlights September 2022 Year 2022 This

Invocation and encashment of Performance Bank Guarantee(s) (PBG) ...

Insolvency and Bankruptcy

September 26, 2022

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 Bank Guarantee does not enjoy the benefits of a moratorium under Section 14 of the Code. - the amount may be utilised for the functioning of the ‘Corporate Debtor’ as a Going Concern. - AT

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