During Liquidation process, a Bank is not bound to release Margin Money held in form of Fixed Deposit against a Bank Guarantee issued to Customs Department under Customs Act,1962 on behalf of Corporate Debtor – Mr. Naresh Kumar Goel, Liquidator Vs. Indian Overseas Bank – NCLT Chandigarh Bench

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Decision to substitute Interim Resolution Professional by Resolution Professional u/s 22 of IBC is a commercial decision, not required to be supported by any reasons – Committee of Creditors of LEEL Electricals Ltd. Through State Bank of India Vs. Leel Electricals Ltd. Through its Interim Resolution Professional, Arvind Mittal – NCLAT New Delhi

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