The Bar & Bench Weekly IBC Diary aims to report crucial rulings of various courts and tribunals and important updates concerning the Insolvency & Bankruptcy Code (IBC), 2016.
1. SM Milkose Limited & Anr v. Parvinder Kumar Bhatt & Ors. (NCLAT, Delhi)
Issue involved:
Whether any amounts received by the corporate debtor during the currency of the Corporate Insolvency Resolution Process (CIRP) can be adjusted towards the claim of any particular financial creditor during the moratorium period imposed under Section 14 of the IBC?
Provisions:
Section 14, IBC
Decision:
Section 14(1)(b) prohibits transferring, encumbering, alienating or disposing of by the corporate debtor, any of its assets or any legal right or beneficial interest therein. …
Read the full article at: https://www.barandbench.com/columns/policy-columns/bar-bench-weekly-ibc-diary-2-liquidator-sell-corporate-debtor-coc-code-of-conduct
