https://www.taxtmi.com/caselaws?id=295332 The Bank of Baroda appealed against an order related to the Corporate Insolvency Resolution Process of ABG Shipyard Ltd, where it had appropriated margin money in violation of the moratorium. The Adjudicating Authority found the Bank's actions to be in breach of the moratorium and directed it to reverse the appropriation and pay interest to the Resolution Professional. Despite the Bank's internal decision to appropriate funds, the Tribunal determined that the appropriation post-CIRP initiation was against the moratorium. The Tribunal upheld the Authority's decision, dismissing the appeal without costs. en-us Thu, 20 Feb 2020 00:00:00 +0530 Sat, 29 May 2021 08:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=295332 The Bank of Baroda appealed against an order related to the Corporate Insolvency Resolution Process of ABG Shipyard Ltd, where it had appropriated margin money in violation of the moratorium. The Adjudicating Authority found the Bank's actions to be in breach of the moratorium and directed it to reverse the appropriation and pay interest to the Resolution Professional. Despite the Bank's internal decision to appropriate funds, the Tribunal determined that the appropriation post-CIRP initiation was against the moratorium. The Tribunal upheld the Authority's decision, dismissing the appeal without costs. Case-Laws Insolvency and Bankruptcy Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=295332