https://www.taxtmi.com/caselaws?id=792325 A competent authority's pre-CIRP decision to appropriate a security deposit was treated as the operative act, so later bill entries and Form-B recording that adjustment were only consequential accounting treatment and did not amount to a prohibited post-moratorium appropriation under the Insolvency and Bankruptcy Code. The disconnection notice under the Electricity Act did not displace that separate adjustment decision. The record further showed that the resolution professional accepted the respondent's net claim, the information memorandum and resolution plan proceeded on that basis, and the approved plan had already been implemented, making reopening of the adjustment impermissible because it would disturb settled commercial terms. The challenge to the alleged post-CIRP appropriation therefore failed. en-us Mon, 25 May 2026 00:00:00 +0530 Wed, 27 May 2026 07:29:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=792325 A competent authority's pre-CIRP decision to appropriate a security deposit was treated as the operative act, so later bill entries and Form-B recording that adjustment were only consequential accounting treatment and did not amount to a prohibited post-moratorium appropriation under the Insolvency and Bankruptcy Code. The disconnection notice under the Electricity Act did not displace that separate adjustment decision. The record further showed that the resolution professional accepted the respondent's net claim, the information memorandum and resolution plan proceeded on that basis, and the approved plan had already been implemented, making reopening of the adjustment impermissible because it would disturb settled commercial terms. The challenge to the alleged post-CIRP appropriation therefore failed. Case-Laws IBC Mon, 25 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=792325