Corporate Debtor’s Account Payments Post-CIRP Start without IRP Approval is a Moratorium Violation: NCLT

The NCLT has ruled that corporate debtor account payments post-CIRP start without IRP approval is a moratorium violation. The tribunal emphasized the need for proper approval procedures. This decision protects the integrity of the CIRP process. The ruling clarifies the requirements for valid payments during the moratorium period. This is regarding bankruptcy law.