https://www.taxtmi.com/caselaws?id=394770 During CIRP, the Tribunal examined whether the corporate debtor and the interim resolution professional could be restrained from dealing with property linked to an arbitral award and related power of attorney arrangements. It applied the moratorium principle under the Insolvency and Bankruptcy Code, which prohibits transfer, encumbrance, alienation, disposal and execution against the corporate debtor's assets. The record indicated that the property dispute had been referred to arbitration, an award had fixed the payable amount, and the debtor's rights were conditional on compliance with that award. Finding no basis to treat the property as free stock-in-trade for unrestricted dealing, the Tribunal granted a status quo order restraining dealings with the property. en-us Mon, 20 Jan 2020 00:00:00 +0530 Fri, 24 Apr 2020 11:29:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=394770 During CIRP, the Tribunal examined whether the corporate debtor and the interim resolution professional could be restrained from dealing with property linked to an arbitral award and related power of attorney arrangements. It applied the moratorium principle under the Insolvency and Bankruptcy Code, which prohibits transfer, encumbrance, alienation, disposal and execution against the corporate debtor's assets. The record indicated that the property dispute had been referred to arbitration, an award had fixed the payable amount, and the debtor's rights were conditional on compliance with that award. Finding no basis to treat the property as free stock-in-trade for unrestricted dealing, the Tribunal granted a status quo order restraining dealings with the property. Case-Laws Insolvency and Bankruptcy Mon, 20 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=394770