https://www.taxtmi.com/caselaws?id=392882 A challenge to interim directions in a pending CIRP could not be used to reopen the corporate debtor's eligibility under the IBC where the section 7 admission order had not been appealed. The appellate tribunal noted that the objection based on the debtor being a financial service provider was not raised at admission and, in any event, the challenge before it was confined to directions for refund of funds transferred in breach of moratorium. On that basis, the status issue was not decided in the appeal, the interim directions remained intact, and any alleged moratorium violation could attract action under the Code's penal provisions. en-us Mon, 18 Nov 2019 00:00:00 +0530 Mon, 02 Mar 2020 11:46:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392882 A challenge to interim directions in a pending CIRP could not be used to reopen the corporate debtor's eligibility under the IBC where the section 7 admission order had not been appealed. The appellate tribunal noted that the objection based on the debtor being a financial service provider was not raised at admission and, in any event, the challenge before it was confined to directions for refund of funds transferred in breach of moratorium. On that basis, the status issue was not decided in the appeal, the interim directions remained intact, and any alleged moratorium violation could attract action under the Code's penal provisions. Case-Laws Insolvency and Bankruptcy Mon, 18 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392882