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IBC - Highlights / Catch Notes

Home Highlights May 2023 Year 2023 This

CIRP - Seeking restraint/ injunction on the Respondents from ...

Insolvency and Bankruptcy

May 27, 2023

CIRP - Seeking restraint/ injunction on the Respondents from encashing or appropriating the Performance Bank Guarantee - The Resolution Plan has been approved with the intent and purpose to revive the Corporate Debtor, which revival is in accordance with objective and purpose of the IBC - MC Lenders shall not invoke the Performance Bank Guarantee in the facts of the present case as on date, and for invocation, if any, MC Lenders may take leave of the Adjudicating Authority. - AT

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