NCLT Dismisses Customs Claim, Orders Bank Guarantee Release

NCLT Ahmedabad dismisses Customs Department's appeal against rejection of its Rs 1.63 crore claim in Spel Granito liquidation due to 230-day delay.
Tribunal allows liquidator's application, directing Cosmos Bank to release Rs 18.5 lakh fixed deposit with interest to liquidation estate.
Court declares Bank Guarantee No.049BG1415011 extinguished as invocation occurred years after its 2017 expiry date.
Order emphasizes strict adherence to IBC timelines and that show cause notices do not constitute crystallized debt for claims.