https://www.taxtmi.com/caselaws?id=431030 The Tribunal overturned the Adjudicating Authority's decision to impose a fine and direct a deposit of Rs.1,60,000/-, emphasizing the Corporate Debtor's cooperation with the IRP and RP. It found the rejection of the expenditure for diesel consumption unjustified, noting the reasonableness of the Corporate Debtor's explanation. The Tribunal highlighted that post-initiation of CIRP, Directors are prohibited from operating accounts or using the Corporate Debtor's assets, affirming this established legal principle. en-us Fri, 02 Dec 2022 00:00:00 +0530 Mon, 05 Dec 2022 08:56:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=431030 The Tribunal overturned the Adjudicating Authority's decision to impose a fine and direct a deposit of Rs.1,60,000/-, emphasizing the Corporate Debtor's cooperation with the IRP and RP. It found the rejection of the expenditure for diesel consumption unjustified, noting the reasonableness of the Corporate Debtor's explanation. The Tribunal highlighted that post-initiation of CIRP, Directors are prohibited from operating accounts or using the Corporate Debtor's assets, affirming this established legal principle. Case-Laws Insolvency and Bankruptcy Fri, 02 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=431030