https://www.taxtmi.com/caselaws?id=294846 The Tribunal ruled in favor of the Interim Resolution Professional (IRP) in a case involving ICICI Bank's debiting of funds from the Corporate Debtor's account post moratorium declaration. The court interpreted Section 14(1)(b) of the Insolvency & Bankruptcy Code, determining that the funds in the account are assets of the Corporate Debtor and cannot be appropriated by the bank. ICICI Bank was directed to return the funds, emphasizing that creditors lose the right of lien over the Corporate Debtor's assets during the moratorium period. en-us Tue, 05 Jun 2018 00:00:00 +0530 Thu, 06 May 2021 08:40:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294846 The Tribunal ruled in favor of the Interim Resolution Professional (IRP) in a case involving ICICI Bank's debiting of funds from the Corporate Debtor's account post moratorium declaration. The court interpreted Section 14(1)(b) of the Insolvency & Bankruptcy Code, determining that the funds in the account are assets of the Corporate Debtor and cannot be appropriated by the bank. ICICI Bank was directed to return the funds, emphasizing that creditors lose the right of lien over the Corporate Debtor's assets during the moratorium period. Case-Laws Insolvency and Bankruptcy Tue, 05 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294846