TMI Blog2021 (11) TMI 23X X X X Extracts X X X X X X X X Extracts X X X X ..... tion 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 (sig ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... CD. Further it is stated that the Respondent withdrew money from the bank accounts of CD deliberately in violation of the Order for the period from 27.5.20 to 7.9.20 totaling to ₹ 55,29,506 maintained with IDBI Bank and Indian Overseas Bank (IOB). The Applicant advised Respondent for restoration of the said amount on 3.10.20 through email to which the Respondent replied on 19.10.20 giving justification. 3. The Respondent has filed reply to the application on 23.7.21 and submitted that the transactions from the account of CD were done by Respondent as an authorized signatory/director of XMC as CD had entered into an 'Operational and Management Agreement'(Agreement) on 5.09.17 with XMC having its registered office in New Del ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Respondent that reply to Applicant's email dated 3.10.20 was done on 19.10.20 and clarified about all the transactions made during the period from 27.05.20 to 24.08.20. The Respondent has vehemently denied that a total amount of ₹ 51,27,000 was debited from the account of CD in his personal account and has completely ignored the evidence on record showing that the payments were made to keep the hospital running as a going concern. 5. Heard the submissions made by parties and perused the records. 6. The Applicant has contended that after the commencement of CIRP, any person other than IRP or RP is debarred under Section 14 of IBC to debit CD's bank account therefore, it is relevant to refer the Section 14 of IBC and is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ot be suspended or terminated on the grounds of insolvency, subject to the condition that there is no defined in payment of current dues arising for the use or continuation of the license or a similar grant or right during moratorium period;] (2) The supply of essential goods or services to the corporate debtor as may be specified shall not be terminated or suspended or interrupted during moratorium period. [(2A) Where the interim resolution professional or resolution professional, as the case may be, considers the supply of goods or services critical to protect and preserve the value of the corporate debtor and manage the operations of such corporate debtor as a going concern, then the supply of such goods or services shall not b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... out its staff like the doctors and the payments were made towards their fees which is essential especially during the pandemic. 8. The Respondent has stated that certain amounts were spent in order to keep the CD as going concern which include amount towards doctors fees (₹ 10.04 lakhs), staff salary (₹ 11.60 lakhs), vendor's payment (₹ 2.0 lakhs) etc., totaling to ₹ 23.70 lakhs in IDBI bank account (pg 5 of additional reply dated 04.08.21). Further, the Respondent has stated that he had spent certain amount towards Doctors Fees (₹ 13.75 lakhs), Staff Salary (₹ 9.04 lakhs), Vendor's Payment (₹ 4.79 lakhs) etc. totaling to ₹ 31.59 lakhs in IOB. The Respondent has also attached the ba ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ₹ 2.13 lakhs on 01.06.20, ₹ 1.3 lakhs on 05.06.20, ₹ 1.05 lakhs on 12.06.20 and ₹ 1.29 lakhs on 18.06.20 etc. in IDBI account. Further, from the perusal of the bank statements submitted by Applicant, we do not find any direct evidence that amount of ₹ 23.7 lakhs from IDBI and ₹ 31.5 lakhs from IOB account of CD were diverted to the personal account of the Respondent as alleged in prayer. 11. 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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