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        Insolvency and Bankruptcy

        2019 (10) TMI 1372 - SCH - Insolvency and Bankruptcy

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        Supreme Court permits access to frozen funds for Corporate Debtor's operations The Supreme Court of India allowed the application for impleadment, permitting the Resolution Professional to access funds from a frozen account to ...
                      Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                        Provisions expressly mentioned in the judgment/order text.

                            Supreme Court permits access to frozen funds for Corporate Debtor's operations

                            The Supreme Court of India allowed the application for impleadment, permitting the Resolution Professional to access funds from a frozen account to sustain the Corporate Debtor's operations as per the ESCROW Agreement dated 20.08.2009.


                            The Supreme Court of India allowed the application for impleadment. The court clarified that the Resolution Professional can draw necessary amounts from the frozen account to run the Corporate Debtor as a going concern in accordance with the ESCROW Agreement dated 20.08.2009.
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