https://www.taxtmi.com/caselaws?id=287168 The Tribunal held that the respondent bank was not entitled to deduct interest during the moratorium period as it contravened Section 14 of the Insolvency and Bankruptcy Code, 2016. The bank was directed to refund the deducted amount and release the security charge on the fixed deposit worth Rs. 50,00,000. Additionally, the bank was deemed unsecured due to non-compliance with registration requirements under Section 77 of the Companies Act, 2013. The resolution professional's application was allowed, and the bank was instructed to comply with the directives within a week. en-us Fri, 10 Aug 2018 00:00:00 +0530 Thu, 02 Apr 2020 10:53:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287168 The Tribunal held that the respondent bank was not entitled to deduct interest during the moratorium period as it contravened Section 14 of the Insolvency and Bankruptcy Code, 2016. The bank was directed to refund the deducted amount and release the security charge on the fixed deposit worth Rs. 50,00,000. Additionally, the bank was deemed unsecured due to non-compliance with registration requirements under Section 77 of the Companies Act, 2013. The resolution professional's application was allowed, and the bank was instructed to comply with the directives within a week. Case-Laws Insolvency and Bankruptcy Fri, 10 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287168