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2021 (11) TMI 23 - NATIONAL COMPANY LAW TRIBUNAL , NEW DELHI BENCHSeeking restoration of amount by the Respondent to Corporate Debtor, which was placed under CIRP - seeking to declare the transaction as unauthorized and punish for violation of the moratorium - Bar u/s 14 of IBC to debit CD's bank account - HELD THAT:- This Authority imposes Moratorium after the commencement of CIRP. The objective is to facilitate orderly completion of the process and ensure that CD continues as a going concern while the creditors take a view on resolution of default. Thus, in the present case in hand, it is the plea of the Respondent that the transactions were done as the hospital (CD) cannot function without its staff like the doctors and the payments were made towards their fees which is essential especially during the pandemic. It is observed that XMC's Agreement had formally ceased just before the pandemic (March 2020), however, the services rendered by XMC were not abruptly discontinued rather certain services had to continue through XMC or through suppliers in spite of the issues of reconciliation of account by CD. It is seen that the Applicant has not given the details of the personal account of the Respondent, in the absence of that we are not able to find whether any money was transferred to his personal bank account - the expenditures had to be made by the people who had the authority as recorded with the banks (signatures on cheque books, passwords for electronic transfer etc). Application dismissed.
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