https://www.taxtmi.com/caselaws?id=461191 NCLT (Mumbai Bench) considered an application under Sections 19(2), 74(1) and 235A of the IBC alleging violation of the moratorium under Section 14(1)(b) by suspended directors of the corporate debtor in respect of three debits during CIRP. The Tribunal observed that the directors had generally cooperated with the IRP/RP and that fund infusion during CIRP was on record. However, one self-withdrawal of Rs. 1,60,000/- claimed towards diesel expenses was unsupported by evidence. Declining to impose punitive sanctions under Section 74, NCLT instead directed the directors to deposit Rs. 1,60,000/- plus Rs. 1,00,000/- as fine into the corporate debtor's account. en-us Tue, 05 Oct 2021 00:00:00 +0530 Thu, 11 Dec 2025 11:25:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461191 NCLT (Mumbai Bench) considered an application under Sections 19(2), 74(1) and 235A of the IBC alleging violation of the moratorium under Section 14(1)(b) by suspended directors of the corporate debtor in respect of three debits during CIRP. The Tribunal observed that the directors had generally cooperated with the IRP/RP and that fund infusion during CIRP was on record. However, one self-withdrawal of Rs. 1,60,000/- claimed towards diesel expenses was unsupported by evidence. Declining to impose punitive sanctions under Section 74, NCLT instead directed the directors to deposit Rs. 1,60,000/- plus Rs. 1,00,000/- as fine into the corporate debtor's account. Case-Laws IBC Tue, 05 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461191