Deciding two connected writ petitions arising from a common Industrial Tribunal Award, the Delhi High Court set aside the Tribunal's direction granting hotel workmen a further…
Labour Laws
06/09/20264 min read
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Informative
Bank Guarantee Which Expired Almost Ten Years Before CIRP Was Initiated, Cannot Be Enforced: Bombay High Court
BankingInsolvency & Bankruptcy Code
The Bombay High Court has ruled that an "expired bank guarantee can't be enforced post-CIRP." The court's decision provides a significant victory for the company. The ruling clarifies that a company cannot be held responsible for the debts of its previous management. The court's decision is a crucial reminder to all companies that they must be diligent in their dealings.
