Limited de-freezing of bank accounts granted for wages and operations, with monthly reporting and remaining relief deferred.

The Tribunal ordered a limited interim de-freezing of the company's bank accounts, finding that a blanket restraint would prevent payment of wages, salaries, and essential day-to-day expenses. It balanced that need against the proposed respondents' objection that full relief before deciding the impleadment request could cause prejudice, and therefore granted only partial operational access. The respondent banks were directed to allow withdrawals only for wages, salaries, and daily business operations, subject to monthly statements being filed, while the remaining reliefs were kept open for later consideration.

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Issues: Whether an interim order should be passed directing de-freezing of the applicant company's bank accounts pending disposal of the application and the impleadment request.

Analysis: The accounts remained frozen and the applicant company asserted that it was unable to pay wages, salaries, and day-to-day expenses. At the same time, the proposed respondents opposed immediate relief on the ground that the accounts had been frozen in connection with their complaint and that granting the relief before deciding impleadment would cause prejudice and injustice to them. The Tribunal held that the ends of justice required an interim arrangement rather than immediate blanket relief.

Conclusion: The Tribunal directed the respondent banks to de-freeze the specified accounts only to the extent necessary for payment of wages, salaries, and day-to-day operations, with monthly statements to be filed, and left the remaining reliefs for later consideration.

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