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2018 (4) TMI 1849 - AT - Insolvency and BankruptcyRecovery of amount from the account of the ‘Corporate Debtor’ - appropriation of amount towards its own dues - the application was already admitted and the moratorium was already declared - HELD THAT:- Once the moratorium is in force the financial creditor including the bank has to prefer its claim before the RP, which would be considered alongwith other claims as per law - Further, it is found that there is direct violation of Section 14(1)(c) which creates a bar prohibiting any action to foreclose, recover or enforce any security interest created by the corporate debtor in respect of its property including any action under the Securitisation Act is also prohibited. Besides there is violations of order of moratorium passed by this Tribunal on 01.06.2017. As there is a direct statutory violation we find that it is a fit case for imposing cost. Accordingly, a cost of ₹ 25,000/- is imposed on the non applicant / respondent. The cost be deposited in the Prime Minister Welfare Fund. While we are not inclined to interfere with the impugned order dated 25th January, 2018 but set aside the order whereunder cost of ₹ 25000/- has been imposed and make our interim order dated 21st March, 2018 absolute which will continue during the period of moratorium. However, after the period of moratorium is over, it will be open to the bank to act in accordance with guidelines of Reserve Bank of India to manage the account - Appeal disposed off.
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