https://www.taxtmi.com/caselaws?id=767683 NCLT Mumbai held that frozen demat accounts of corporate debtor under liquidation must be unfrozen to enable asset liquidation under IBC waterfall mechanism. The tribunal ruled that IBC provisions override SEBI regulations when freezing impedes liquidation process. Demat accounts were frozen due to non-compliance with SEBI LODR regulations by associated companies. NCLT found jurisdiction exists as dispute has clear nexus with insolvency proceedings. Continued freezing would delay time-bound liquidation process and obstruct liquidator from maximizing asset recovery. Respondents directed to unfreeze accounts and cooperate with liquidator. en-us Wed, 31 Jul 2024 00:00:00 +0530 Sat, 22 Mar 2025 08:34:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=767683 NCLT Mumbai held that frozen demat accounts of corporate debtor under liquidation must be unfrozen to enable asset liquidation under IBC waterfall mechanism. The tribunal ruled that IBC provisions override SEBI regulations when freezing impedes liquidation process. Demat accounts were frozen due to non-compliance with SEBI LODR regulations by associated companies. NCLT found jurisdiction exists as dispute has clear nexus with insolvency proceedings. Continued freezing would delay time-bound liquidation process and obstruct liquidator from maximizing asset recovery. Respondents directed to unfreeze accounts and cooperate with liquidator. Case-Laws IBC Wed, 31 Jul 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=767683