NCLAT Orders Fresh Review on Insolvency Case, Emphasizes Section 14(1)(d) Prohibition on Property Recovery by Debtor.

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....The National Company Law Appellate Tribunal (NCLAT) has remanded the case back to the Adjudicating Authority (AA) to examine and decide the issues in a comprehensive manner, including the application of the appellant in I.A. No. 1412 of 2023, preferably within four weeks. The NCLAT held that there is an absolute bar on recovery of any property occupied or possessed by the Corporate Debtor u/s 14(1)(d) of the Insolvency and Bankruptcy Code. The AA had passed a non-speaking order merely based on the consent of the Resolution Professional (RP) to release the property, without examining the maintainability of such applications by the owner/lessor in view of Section 14(1)(d). The Committee of Creditors (CoC) did not appear to have taken a final .........