https://www.taxtmi.com/caselaws?id=771914 NCLAT dismissed appeal challenging order directing reversal of unauthorized payments made during CIRP moratorium. Corporate debtor's management made Rs 11.01 crore payments via RTGS and cheques to creditors after CIRP commencement without IRP authorization, claiming ordinary business course. NCLAT held moratorium under Section 14 IBC creates absolute prohibition on payments to creditors without IRP approval, regardless of business necessity arguments. Suspended management cannot unilaterally deploy corporate funds during moratorium period. Appellant and recipients held jointly liable to refund amounts to corporate debtor's account. en-us Fri, 30 May 2025 00:00:00 +0530 Sat, 31 May 2025 10:58:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=771914 NCLAT dismissed appeal challenging order directing reversal of unauthorized payments made during CIRP moratorium. Corporate debtor's management made Rs 11.01 crore payments via RTGS and cheques to creditors after CIRP commencement without IRP authorization, claiming ordinary business course. NCLAT held moratorium under Section 14 IBC creates absolute prohibition on payments to creditors without IRP approval, regardless of business necessity arguments. Suspended management cannot unilaterally deploy corporate funds during moratorium period. Appellant and recipients held jointly liable to refund amounts to corporate debtor's account. Case-Laws IBC Fri, 30 May 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=771914