https://www.taxtmi.com/caselaws?id=769495 NCLAT dismissed the appeal by suspended directors who withdrew Rs. 32 lakhs from corporate debtor's bank account during moratorium period under Section 14 of IBC. The Tribunal found continuing non-cooperation and brazen disobedience by appellants. The withdrawal violated IBC provisions and appellants were directed to deposit the amount with 12% annual interest into liquidation estate. The Tribunal applied res judicata principle as the matter was previously settled by the Adjudicating Authority with no infirmity in orders. en-us Wed, 23 Apr 2025 00:00:00 +0530 Sat, 26 Apr 2025 08:30:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=769495 NCLAT dismissed the appeal by suspended directors who withdrew Rs. 32 lakhs from corporate debtor's bank account during moratorium period under Section 14 of IBC. The Tribunal found continuing non-cooperation and brazen disobedience by appellants. The withdrawal violated IBC provisions and appellants were directed to deposit the amount with 12% annual interest into liquidation estate. The Tribunal applied res judicata principle as the matter was previously settled by the Adjudicating Authority with no infirmity in orders. Case-Laws IBC Wed, 23 Apr 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=769495