https://www.taxtmi.com/caselaws?id=424375 The Tribunal dismissed the Financial Creditor's application seeking possession of Residential Apartments from the Corporate Debtor during the Corporate Insolvency Resolution Process (CIRP). The decision was based on the interpretation of Section 43(2)(b) of the IBC, emphasizing the need to maintain the integrity of the insolvency resolution process and prevent preferential treatment of creditors. The Tribunal ruled that transferring possession to the applicant would disrupt the insolvency distribution principles outlined in Section 53, leading to the denial of the relief sought. en-us Thu, 23 Jun 2022 00:00:00 +0530 Fri, 09 Sep 2022 11:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424375 The Tribunal dismissed the Financial Creditor's application seeking possession of Residential Apartments from the Corporate Debtor during the Corporate Insolvency Resolution Process (CIRP). The decision was based on the interpretation of Section 43(2)(b) of the IBC, emphasizing the need to maintain the integrity of the insolvency resolution process and prevent preferential treatment of creditors. The Tribunal ruled that transferring possession to the applicant would disrupt the insolvency distribution principles outlined in Section 53, leading to the denial of the relief sought. Case-Laws Insolvency and Bankruptcy Thu, 23 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424375