https://www.taxtmi.com/caselaws?id=427860 A suspended managing director may invoke section 60(5) of the Insolvency and Bankruptcy Code to challenge measures affecting the corporate debtor during CIRP, including steps taken in SARFAESI sale proceedings, where the challenge concerns protection of the debtor's assets under the moratorium. Rejection of such an application solely on the ground that the applicant is a member of the suspended board is unsustainable when the complaint is directed to actions barred or affected by section 14. The impugned rejection order was set aside and the application restored for consideration on merits. en-us Fri, 16 Sep 2022 00:00:00 +0530 Sat, 17 Sep 2022 17:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427860 A suspended managing director may invoke section 60(5) of the Insolvency and Bankruptcy Code to challenge measures affecting the corporate debtor during CIRP, including steps taken in SARFAESI sale proceedings, where the challenge concerns protection of the debtor's assets under the moratorium. Rejection of such an application solely on the ground that the applicant is a member of the suspended board is unsustainable when the complaint is directed to actions barred or affected by section 14. The impugned rejection order was set aside and the application restored for consideration on merits. Case-Laws Insolvency and Bankruptcy Fri, 16 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427860