https://www.taxtmi.com/caselaws?id=418170 The Tribunal allowed the creation of fixed deposits in nationalized banks from Escrow Accounts for six months with auto-renewal. The Supreme Court directed the maintenance of Escrow Accounts without allowing fixed deposits, subject to NCLAT or competent authority orders. The Tribunal declined to direct fixed deposits, emphasizing the need for further consideration during fund distribution hearings. Applications for fund appropriation were closed due to pending matters, with liberty to renew. An application for modifying a previous order to file a Section 7 application was scheduled for further hearing, with the Respondent given two weeks to reply. en-us Tue, 08 Feb 2022 00:00:00 +0530 Thu, 10 Feb 2022 08:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418170 The Tribunal allowed the creation of fixed deposits in nationalized banks from Escrow Accounts for six months with auto-renewal. The Supreme Court directed the maintenance of Escrow Accounts without allowing fixed deposits, subject to NCLAT or competent authority orders. The Tribunal declined to direct fixed deposits, emphasizing the need for further consideration during fund distribution hearings. Applications for fund appropriation were closed due to pending matters, with liberty to renew. An application for modifying a previous order to file a Section 7 application was scheduled for further hearing, with the Respondent given two weeks to reply. Case-Laws Insolvency and Bankruptcy Tue, 08 Feb 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418170