https://www.taxtmi.com/caselaws?id=293108 Once a moratorium is declared on admission of a Section 7 insolvency application, a financial creditor cannot debit, appropriate or recover amounts from the corporate debtor's account for its own dues; instead, it must lodge its claim before the resolution professional. Amounts deposited after commencement of moratorium cannot be adjusted by the bank against its dues, and the corporate debtor must be allowed to operate the account through the resolution process. The directions to restore and defreeze the account during moratorium were maintained. The cost imposed on the financial creditor was set aside. en-us Fri, 27 Apr 2018 00:00:00 +0530 Sat, 23 Jan 2021 21:23:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=293108 Once a moratorium is declared on admission of a Section 7 insolvency application, a financial creditor cannot debit, appropriate or recover amounts from the corporate debtor's account for its own dues; instead, it must lodge its claim before the resolution professional. Amounts deposited after commencement of moratorium cannot be adjusted by the bank against its dues, and the corporate debtor must be allowed to operate the account through the resolution process. The directions to restore and defreeze the account during moratorium were maintained. The cost imposed on the financial creditor was set aside. Case-Laws Insolvency and Bankruptcy Fri, 27 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=293108