2.9. We have already distinguished the reliance on the Jaypee Kensington Boulevard Apartments Assn (Supra). We find that issue in Engineering Projects Ltd. V/s Ram Ratan Kanoongo Company Appeal (AT) (Insolvency) No. 263 of 2022 was in relation to disbursement of proceeds of Bank Guarantee after commencement of CIRP, though the Bank Guarantees stood invoked prior to commencement of CIRP, accordingly, this decision does not lay down the principle as contended by the Applicant. In the case of Bank of India V/s Maxim Infrastructure & Real Estate Ltd. 2019 SCC OnLine NCLT 666 , the Adjudicating authority had approved a resolution plan contemplating transfer of all assets / rights of the Corporate Debtor. In the case of Ansal Engineering Projects V/s Tehri Hydro Development Corpn. Ltd. (1996) 5 SCC 450 , the issue under consideration was whether injunction against encashment of Bank Guarantee can restrain the beneficiary bank to invoke the Guarantee, and the Hon’ble Supreme Court held that the liability of issuing bank is absolute and unequivocal. In the case of Monitoring Agency of Anush Finlease V/s SBI Company Appeal (AT) (Insolvency) No. 902 of 2020 , the issue was whether the margin money against Bank Guarantee can be subject matter of resolution plan, and it was held that margin money is construed as substratum of a trust created to pay to the beneficiary to whom the bank guarantee is given and cannot be treated as an asset of the Corporate Debtor. In the case of Manohar Lal V/s Vinesh Anand (2001) 5 SCC 407, the issue was whether Arbitrator can be termed to be a Court within meaning of Section 195 of CRPC. In the case of Re: Stone India Ltd V/S NCLT Kolkata Bench I.A. (IB) 1387/KB/2022 & IA (IB) 1335/KB/2022 , the Adjudicating authority had approved a resolution plan and held that no blanket orders in relation to subsisting contracts can be granted in the absence of the parties to the
