https://www.taxtmi.com/caselaws?id=382254 The Tribunal upheld the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, appointing an Interim Resolution Professional and imposing a moratorium. It rejected the modification sought to allow the Corporate Debtor to operate its bank accounts, emphasizing the restrictions during the moratorium period. The Tribunal clarified that assets held under trust or contractual arrangements were not subject to the moratorium. The decision was based on the understanding that assets generated from rent payments were not deductible during the moratorium, as per the Assignment Agreement and relevant provisions of the Code. en-us Tue, 22 Jan 2019 00:00:00 +0530 Fri, 28 Jun 2019 08:13:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382254 The Tribunal upheld the order admitting the application under Section 7 of the Insolvency and Bankruptcy Code, appointing an Interim Resolution Professional and imposing a moratorium. It rejected the modification sought to allow the Corporate Debtor to operate its bank accounts, emphasizing the restrictions during the moratorium period. The Tribunal clarified that assets held under trust or contractual arrangements were not subject to the moratorium. The decision was based on the understanding that assets generated from rent payments were not deductible during the moratorium, as per the Assignment Agreement and relevant provisions of the Code. Case-Laws Insolvency and Bankruptcy Tue, 22 Jan 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382254