JUDGMENT

[Per: Barun Mitra, Member (Technical)]

The present appeal filed under Section 61 of Insolvency and Bankruptcy Code 2016 (‘IBC’ in short) by the Appellant arises out of the Order dated 16.06.2023 (hereinafter referred to as ‘Impugned Order’) passed by the Adjudicating Authority, National Company Law Tribunal, Mumbai Bench-IV in IA-117/2022 in CP (IB) No. 3269/MB-IV/2019. By the impugned order, the Adjudicating Authority dismissed the application filed by the Liquidator seeking direction to the present Respondents for refund of an amount of Rs. 90,42,174/- which had been adjusted by them against outstanding tax liability of the Corporate Debtor while moratorium under Section 14 of the IBC was in effect. Aggrieved by this order, the present appeal has been preferred by the Liquidator – Appellant.

2. The chronological sequence of events of the present case which are necessary to be noticed for consideration of the matter by us is as hereunder:

 M/s Kotak Urja Pvt Ltd was admitted into Corporate Insolvency Resolution Process (‘CIRP’ in short) on 18.11.2019. The present Appellant was appointed as the Resolution Professional (‘RP’ in short).

 The RP had informed Respondent about t