https://www.taxtmi.com/caselaws?id=400438 The appeal for condonation of delay in filing due to lockdown and Supreme Court's extension was granted. The Appellant Bank's adjustment of funds during CIRP was deemed impermissible under Section 14 of IBC, directing restoration of the Corporate Debtor's account. Sections 173 and 36 of IBC were found more relevant in liquidation proceedings. The Tribunal upheld the moratorium's strict application, dismissing the appeal and emphasizing compliance with IBC provisions during CIRP, restricting creditor actions despite good faith claims. en-us Tue, 03 Nov 2020 00:00:00 +0530 Sat, 07 Nov 2020 08:48:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=400438 The appeal for condonation of delay in filing due to lockdown and Supreme Court's extension was granted. The Appellant Bank's adjustment of funds during CIRP was deemed impermissible under Section 14 of IBC, directing restoration of the Corporate Debtor's account. Sections 173 and 36 of IBC were found more relevant in liquidation proceedings. The Tribunal upheld the moratorium's strict application, dismissing the appeal and emphasizing compliance with IBC provisions during CIRP, restricting creditor actions despite good faith claims. Case-Laws Insolvency and Bankruptcy Tue, 03 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=400438