https://www.taxtmi.com/caselaws?id=785334 Permission to travel abroad during insolvency proceedings was contested where the Adjudicating Authority imposed multiple conditions. The tribunal held that the directive requiring a Rs 40 crore security deposit was unsustainable because the appellant had been declared bankrupt and a bankruptcy trustee administers the estate, making such performance impossible; that condition was relaxed. The tribunal sustained the requirement for execution of bonds by two solvent sureties of Rs 50 crore each as a reasonable protective measure for financial creditors, and left undisputed conditions unaltered. The appeal was allowed with modification of the impugned conditions. en-us Mon, 19 Jan 2026 00:00:00 +0530 Thu, 22 Jan 2026 08:41:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=785334 Permission to travel abroad during insolvency proceedings was contested where the Adjudicating Authority imposed multiple conditions. The tribunal held that the directive requiring a Rs 40 crore security deposit was unsustainable because the appellant had been declared bankrupt and a bankruptcy trustee administers the estate, making such performance impossible; that condition was relaxed. The tribunal sustained the requirement for execution of bonds by two solvent sureties of Rs 50 crore each as a reasonable protective measure for financial creditors, and left undisputed conditions unaltered. The appeal was allowed with modification of the impugned conditions. Case-Laws IBC Mon, 19 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=785334