https://www.taxtmi.com/caselaws?id=287192 The Tribunal granted the Resolution Professional's application under Section 19(2) of the Insolvency and Bankruptcy Code, directing the Financial Creditor, State Bank of India, to cooperate, manage the corporate debtor, defreeze assets, and refrain from violating the moratorium. The Tribunal rejected the argument that RBI circulars override statutory provisions, emphasizing the supremacy of the Code. It found the Financial Creditor's actions during the moratorium period to be in violation of the law, imposing costs and ordering the reversal of debits. The judgment reinforced adherence to statutory provisions and cooperation in insolvency proceedings. en-us Thu, 25 Jan 2018 00:00:00 +0530 Fri, 03 Apr 2020 10:52:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287192 The Tribunal granted the Resolution Professional's application under Section 19(2) of the Insolvency and Bankruptcy Code, directing the Financial Creditor, State Bank of India, to cooperate, manage the corporate debtor, defreeze assets, and refrain from violating the moratorium. The Tribunal rejected the argument that RBI circulars override statutory provisions, emphasizing the supremacy of the Code. It found the Financial Creditor's actions during the moratorium period to be in violation of the law, imposing costs and ordering the reversal of debits. The judgment reinforced adherence to statutory provisions and cooperation in insolvency proceedings. Case-Laws Insolvency and Bankruptcy Thu, 25 Jan 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287192