https://www.taxtmi.com/caselaws?id=286504 The tribunal found that the directors violated Sections 14 and 17 of the Insolvency and Bankruptcy Code by transferring funds during the moratorium without IRP consent. Allegations of IRP delay were noted, with non-compliance of CIRP Regulations allowing fund diversion. The tribunal ordered the recalled funds to be refunded to the corporate debtor within 15 days, emphasizing the need for compliance to ensure a smooth CIRP process. en-us Fri, 24 Aug 2018 00:00:00 +0530 Mon, 02 Mar 2020 08:50:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286504 The tribunal found that the directors violated Sections 14 and 17 of the Insolvency and Bankruptcy Code by transferring funds during the moratorium without IRP consent. Allegations of IRP delay were noted, with non-compliance of CIRP Regulations allowing fund diversion. The tribunal ordered the recalled funds to be refunded to the corporate debtor within 15 days, emphasizing the need for compliance to ensure a smooth CIRP process. Case-Laws Insolvency and Bankruptcy Fri, 24 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286504