https://www.taxtmi.com/caselaws?id=280873 The Tribunal granted permission for the Resolution Professional to open a separate bank account with ICICI Bank for the Corporate Insolvency Resolution Process (CIRP) of a company. It held that assets generated for the CIRP are not subject to attachment by other authorities under the Insolvency Code, superseding conflicting laws. The account will operate as a "No Lien Account" supervised by NCLT and the Committee of Creditors, with withdrawals requiring approval from the Committee and the Adjudicating Authority. en-us Tue, 05 Mar 2019 00:00:00 +0530 Fri, 24 May 2019 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=280873 The Tribunal granted permission for the Resolution Professional to open a separate bank account with ICICI Bank for the Corporate Insolvency Resolution Process (CIRP) of a company. It held that assets generated for the CIRP are not subject to attachment by other authorities under the Insolvency Code, superseding conflicting laws. The account will operate as a "No Lien Account" supervised by NCLT and the Committee of Creditors, with withdrawals requiring approval from the Committee and the Adjudicating Authority. Case-Laws Insolvency and Bankruptcy Tue, 05 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=280873