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2020 (2) TMI 1495 - AT - Insolvency and BankruptcyDirection to Bank to reverse the entry vide which the Bank had appropriated margin money which was kept in the form of three Fixed Deposits - HELD THAT:- It does appear that money which was lying with the Bank as margin money in the Form of 3 FDs in the name of Corporate Debtor were appropriated after the CIRP was initiated and thus the same could not have been done under Section 14 of IBC. What internal instructions Bank gave on 01.08.2017 is not relevant. Admittedly, F.D. Accounts were closed on 02.08.2017 when Moratorium was in force. There are no error in the Impugned Order passed by the Adjudicating Authority - appeal dismissed.
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