https://www.taxtmi.com/caselaws?id=372918 The Tribunal dismissed Dena Bank's application seeking an interim order to prevent the Resolution Professional (IRP) from demanding custody of mortgaged properties. The Tribunal found the IRP's demand justified as the property was reflected as an asset in the Corporate Debtor's books, even though the Bank had possession rights, not ownership. Additionally, the Tribunal concluded that the Bank's possession fell within the moratorium's scope under Section 14 of the Insolvency & Bankruptcy Code, prohibiting any further dealings with the asset. The judgment emphasized adherence to the Code's provisions and the need for creditor cooperation in insolvency proceedings. en-us Thu, 11 Oct 2018 00:00:00 +0530 Thu, 03 Jan 2019 08:05:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372918 The Tribunal dismissed Dena Bank's application seeking an interim order to prevent the Resolution Professional (IRP) from demanding custody of mortgaged properties. The Tribunal found the IRP's demand justified as the property was reflected as an asset in the Corporate Debtor's books, even though the Bank had possession rights, not ownership. Additionally, the Tribunal concluded that the Bank's possession fell within the moratorium's scope under Section 14 of the Insolvency & Bankruptcy Code, prohibiting any further dealings with the asset. The judgment emphasized adherence to the Code's provisions and the need for creditor cooperation in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 11 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372918