Resolution Professional has duty to preserve & protect the assets of Corporate Debtor including the continued business operations and for the purpose, interim finance can be raised subject to approval of CoC- Sajeve Bhushan Deora Vs. Axis Bank Ltd. & Ors.-NCLAT

The Adjudicating Authority took a conscious decision not to dissipate the assets of the Company. As per Section 25 of Insolvency and Bankruptcy Code, 2016, Resolution Professional has duty to preserve and protect the assets of Corporate Debtor including the continued business operations and for the purpose, interim finance can be raised subject to approval of COC. Adjudicating Authority directed that CIR costs should be met by COC. There is nothing wrong in this.

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