https://www.taxtmi.com/caselaws?id=398626 The Tribunal found that Respondents Nos. 1, 2, and 3 engaged in unauthorized and illegal withdrawals during the Corporate Insolvency Resolution Process, violating the moratorium under Section 14 of the Insolvency and Bankruptcy Code. The transactions were deemed fraudulent, resulting in penalties under Sections 66 and 67 of the IBC. Respondents were directed to return the withdrawn amounts and pay fines. The application was allowed, and the order was to be communicated to all parties involved. en-us Fri, 11 Sep 2020 00:00:00 +0530 Mon, 21 Sep 2020 10:39:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=398626 The Tribunal found that Respondents Nos. 1, 2, and 3 engaged in unauthorized and illegal withdrawals during the Corporate Insolvency Resolution Process, violating the moratorium under Section 14 of the Insolvency and Bankruptcy Code. The transactions were deemed fraudulent, resulting in penalties under Sections 66 and 67 of the IBC. Respondents were directed to return the withdrawn amounts and pay fines. The application was allowed, and the order was to be communicated to all parties involved. Case-Laws Insolvency and Bankruptcy Fri, 11 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=398626