https://www.taxtmi.com/caselaws?id=411409 The NCLT, Guwahati Bench, directed the Respondent to refund Rs. 32.50 lakhs to the Corporate Debtor's account within 7 days as per SC orders. The SC allowed the Respondent to operate its account upon remitting the amount. The Respondent, an MSME unit, faced difficulty as their funds were held by ICICI Bank due to a lien by the RP. NCLT directed the bank to remit the funds immediately, allowing the Respondent to operate the account. Further compliance and reporting obligations were imposed on the Respondent and RP, with the matter listed for further hearing. en-us Thu, 12 Aug 2021 00:00:00 +0530 Wed, 25 Aug 2021 09:08:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=411409 The NCLT, Guwahati Bench, directed the Respondent to refund Rs. 32.50 lakhs to the Corporate Debtor's account within 7 days as per SC orders. The SC allowed the Respondent to operate its account upon remitting the amount. The Respondent, an MSME unit, faced difficulty as their funds were held by ICICI Bank due to a lien by the RP. NCLT directed the bank to remit the funds immediately, allowing the Respondent to operate the account. Further compliance and reporting obligations were imposed on the Respondent and RP, with the matter listed for further hearing. Case-Laws Insolvency and Bankruptcy Thu, 12 Aug 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=411409