Fine on Corporate Debtor Overruled Due to Section 14 Moratorium Under Insolvency and Bankruptcy Code.

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....Levy of fine on the corporate debtor - In view of the moratorium declared in terms of Section 14 of the Code and also in view of the fact of making certain compliances subsequently and also in view of the fact that the Resolution Professional is facing certain reasonable impediments with regard to certain other compliances, the impugned order of National Stock Exchange of India Ltd. is unsustainable. Burdening the corporate debtor with imposition of fines further is against to the interest of the corporate debtor and also against to the object of the Code. - Tri....