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2021 (3) TMI 1288 - Tri - Insolvency and BankruptcySeeking to declare the transaction of payment made by Corporate Debtor to Respondent No.1 as non-est in law - moratorium order as per section 14 of IBC - HELD THAT:- In terms of Section 14(1) of the IB code, the corporate debtor or its management or agents cease to exist and only IRP is in control of the Corporate Debtor after initiation of CIRP of the corporate debtor. Accordingly, in the present case the payments made by the corporate debtor from the bank account are in gross violation of provisions al the code. It is the contention of the applicant that the respondents being the operational creditors must file their claim before the IRP/RP which be considered in the accordance with provisions of the code. Arguments cf Respondent No.1 that the said payment be allowed, merely on ground that the services were used by the corporate debtor in past as well as continues does not hold water in eyes of law as per the provisions of IBC clearly bars the same. Hence, this bench directs the respondent No. 1 to 5 herein to refund all payments received by them on 19.08.2020 and 20.08.2020 - Application allowed.
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