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2022 (5) TMI 1121 - Tri - Insolvency and BankruptcyUtilization of amount for the distribution of assets under Section 53 of the Code - Realization of security interest by secured creditor - HELD THAT:- The Respondent owes a duty to mention the existence of moratorium passed by this Tribunal including the invocation of Bank Guarantee before the concerned Courts. When proceedings of CIRP and Liquidation are pending before this Tribunal, no proceedings can be continued before the Civil Courts without prior approval of this Tribunal. It is seen from the records that the claims were received and a consolidated list of claims of Rs. 78,02,52,535/- was prepared and that the Corporate Debtor does not have any liquidation assets other than the Liquidation Assets i.e., the amount of Rs.25,13,38,078/- and Rs. 5,46,08,871.37/- in relation to the Corporate Debtor under Section 36 of IBC, 2016. There is no asset of the Corporate Debtor available and the only source to be distributed among the claimants to the tune of Rs. 30,59,46,949/- is the Fixed Deposit and interest accrued therein as also the amount retained by the Respondent under the direction of this Tribunal - Application disposed off.
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