https://www.taxtmi.com/caselaws?id=446629 NCLAT dismissed appeal seeking segregation of investor refund amounts from corporate debtor's CIRP. The corporate debtor served as asset management company for a trust, with all assets transferred to Resolution Professional. Forensic audit found no evidence that Rs.30,86,62,832 belonging to trust was reflected in corporate debtor's books. Adjudicating Authority correctly determined no direct investment/deposit from trust appeared in corporate debtor's accounts. Resolution Plan addressed SEBI liability discharge and refund obligations. During moratorium period, no recovery could be effected from Resolution Professional per SEBI order. Appeal rejected as appellant failed to demonstrate claimed amount existed in corporate debtor's books. en-us Wed, 06 Dec 2023 00:00:00 +0530 Fri, 08 Dec 2023 08:55:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446629 NCLAT dismissed appeal seeking segregation of investor refund amounts from corporate debtor's CIRP. The corporate debtor served as asset management company for a trust, with all assets transferred to Resolution Professional. Forensic audit found no evidence that Rs.30,86,62,832 belonging to trust was reflected in corporate debtor's books. Adjudicating Authority correctly determined no direct investment/deposit from trust appeared in corporate debtor's accounts. Resolution Plan addressed SEBI liability discharge and refund obligations. During moratorium period, no recovery could be effected from Resolution Professional per SEBI order. Appeal rejected as appellant failed to demonstrate claimed amount existed in corporate debtor's books. Case-Laws Insolvency and Bankruptcy Wed, 06 Dec 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446629