Directors Accused of Diverting Funds During CIRP, Violating I&B Code Sections 14, 70, and 74. Appeal Doesn't Challenge Admission.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....CIRP Process - funds allegedly diverted by the Directors during the period of Moratorium - For violating the provisions of the 'I&B Code' including section 14, if the Appellant is liable for punishment under Chapter VII of the 'I&B Code', particularly section 70, 74 etc. of the 'I&B Code', they cannot divert the issue of punishment or their alleged violation of the order of the Adjudicating Authority/Tribunal by raising a separate issue which is not required for determination in this appeal in absence of any challenge of order of admission. - AT....