The Appellant, Krishna Sahil Constructions Pvt. Ltd., filed an appeal against an order dated 07.11.2025, which rejected IA No.2932/2024 filed by the Appellant. The IA sought the release of bank guarantees related to a mobilisation advance issued by the Applicant in favor of the Corporate Debtor.
Krishna Sahil Constructions Pvt. Ltd. filed an appeal against the rejection of IA No.2932/2024.
The IA sought the release of bank guarantees related to a mobilisation advance of Rs. 1,29,30,000/-.
A contract was entered with the Appellant and the Resolution Professional, under which a mobilisation advance was given to the Appellant.
The Appellant also filed a claim before the Resolution Professional regarding the work both pre-CIRP and during CIRP.
The plan has been approved by the CoC and is pending consideration before the Adjudicating Authority.
The Adjudicating Authority rejected the application seeking release of the Bank Guarantee.
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The Appellant, Krishna Sahil Constructions Pvt. Ltd., filed an appeal against an order dated 07.11.2025, which rejected IA No.2932/2024 filed by the Appellant. The IA sought the release of bank guarantees related to a mobilisation advance issued by the Applicant in favor of the Corporate Debtor.
Krishna Sahil Constructions Pvt. Ltd. filed an appeal against the rejection of IA No.2932/2024.
The IA sought the release of bank guarantees related to a mobilisation advance of Rs. 1,29,30,000/-.
A contract was entered with the Appellant and the Resolution Professional, under which a mobilisation advance was given to the Appellant.
The Appellant also filed a claim before the Resolution Professional regarding the work both pre-CIRP and during CIRP.
The plan has been approved by the CoC and is pending consideration before the Adjudicating Authority.
The Adjudicating Authority rejected the application seeking release of the Bank Guarantee.
Order passed by which…
Heard learned counsel…
Sign in to view related legal provisions.