https://www.taxtmi.com/caselaws?id=760583 Pre-CIRP annual mine closure cost was held not to be trust money in the absence of a separate trust account or documentary proof of trust creation, so the claim had to be dealt with within the insolvency resolution process under the Insolvency and Bankruptcy Code. The Code's overriding effect displaced inconsistent contractual or statutory claims seeking recovery outside the insolvency framework. The direction fastening personal liability on the resolution professional for any deviation in disposal of mined coal was also set aside because it depended on the rejected premise that the amount lay outside the corporate debtor's estate, though the resolution professional remains bound to act in accordance with the Code and its rules. en-us Wed, 23 Oct 2024 00:00:00 +0530 Thu, 24 Oct 2024 08:15:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760583 Pre-CIRP annual mine closure cost was held not to be trust money in the absence of a separate trust account or documentary proof of trust creation, so the claim had to be dealt with within the insolvency resolution process under the Insolvency and Bankruptcy Code. The Code's overriding effect displaced inconsistent contractual or statutory claims seeking recovery outside the insolvency framework. The direction fastening personal liability on the resolution professional for any deviation in disposal of mined coal was also set aside because it depended on the rejected premise that the amount lay outside the corporate debtor's estate, though the resolution professional remains bound to act in accordance with the Code and its rules. Case-Laws IBC Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760583