https://www.taxtmi.com/caselaws?id=416798 The Tribunal held that the Fixed Deposits were not charged assets or additional security under the Facility Agreements. The Appellant Bank lacked a valid right of set-off or lien over them. The moratorium under Section 14(1)(c) of the Insolvency and Bankruptcy Code prevented enforcement of security interests. The Resolution Professional had the authority to request closure and transfer of the Fixed Deposits. The Tribunal affirmed the Adjudicating Authority's order and dismissed the appeal with no costs. en-us Fri, 07 Jan 2022 00:00:00 +0530 Sat, 08 Jan 2022 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416798 The Tribunal held that the Fixed Deposits were not charged assets or additional security under the Facility Agreements. The Appellant Bank lacked a valid right of set-off or lien over them. The moratorium under Section 14(1)(c) of the Insolvency and Bankruptcy Code prevented enforcement of security interests. The Resolution Professional had the authority to request closure and transfer of the Fixed Deposits. The Tribunal affirmed the Adjudicating Authority's order and dismissed the appeal with no costs. Case-Laws Insolvency and Bankruptcy Fri, 07 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416798