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Insolvency and BankruptcyApril 23, 2021Case LawsSC
Release of freezed bank account of petitioner - moratorium in process - Having regard to the orders passed by the NCLT admitting the application, under Section 7, and also the ordering of moratorium under Section 14 of the IBC and the orders which have been passed by the tribunal otherwise, the impugned order of the High Court resulting in the Respondent No. 1 being allowed to operate the account without making good the amount of ₹ 32.50 lakhs to be placed in the account of the Corporate Debtor cannot be sustained. - SC
Release of freezed bank account of petitioner - moratorium in process - Having regard to the orders passed by the NCLT admitting the application, under Section 7, and also the ordering of moratorium under Section 14 of the IBC and the orders which have been passed by the tribunal otherwise, the impugned order of the High Court resulting in the Respondent No. 1 being allowed to operate the account without making good the amount of ₹ 32.50 lakhs to be placed in the account of the Corporate Debtor cannot be sustained. - SC
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