The Bankers have already received 25% of the bid offer and remaining 75% was to be payable within 15 days by the successful bidder. Meanwhile the corporate debtor initiated CIRP. Since the sale exercise through auction w

The Bankers have already received 25% of the bid offer and remaining 75% was to be payable within 15 days by the successful bidder. Meanwhile the corporate debtor initiated CIRP. Since the sale exercise through auction was already initiated by the bankers prior to initiation of CIRP, by the corporate debtor, whether such sale transaction will be nullified in light of declaration of moratorium by the Adjudicating Authority? Elaborate in the light of the decided case law.