2023 (8) TMI 708

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....(Ins.) No. 992 of 2023 - -<br>Insolvency & Bankruptcy<br>[ Justice Ashok Bhushan ] Chairperson And [ Barun Mitra ] Member ( Technical ) For the Appellants : Mr. Abhijheet Sinha, Ms. Suhasini Sen, Mr. Rahul Kripalani, Ms. Supraja V., Ms. Surbhi, Mr. Aditya P. Chauhan, Advocates. For the Respondents : Mr. Aditya Dewan, Advocate for Applicant/ R-2 IN 3649/2023 Mr. Siddharth Sharma, Advocate for R1.....

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....y deem fit and necessary in the interest of justice." 2. In this Appeal, against the order admitting CIRP, interim order was passed by this Tribunal on 28.07.2023 where we have directed "we further are of the view that even though we have stayed the CIRP process the appellant or CD shall not alienate its assets.". 3. Learned Counsel for the Corporate Debtor has relied on the judgment of this Tri....

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....t such request made by the Appellant. The Admission Order of Section 7 Application has only been stayed and not quashed thus the Corporate Debtor can not be permitted to function as it was functioning prior to 28.10.2022. 19. However, in view of the stay of the Order dated 28.10.2022, the IRP can not carry on any functions since the IRP was appointed by the same order and by stay of the Order, n....