https://www.taxtmi.com/caselaws?id=773313 In a section 9 proceeding under the Arbitration and Conciliation Act, 1996, interim protection must remain confined to what is necessary to secure the charged assets on a prima facie basis. The court found the bank-account freeze unjustified on the material then available because existing SARFAESI protection over the secured assets was sufficient and the restraint would interfere with ordinary business; the bank-account injunction was vacated. At the same time, the court sustained protection over disclosed and future investments covered by hypothecation, restraining disposal, transfer, or redemption of those assets and directing periodic financial disclosure. The interim order was therefore modified rather than wholly sustained or set aside. en-us Wed, 18 Jun 2025 00:00:00 +0530 Sat, 21 Jun 2025 08:28:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=773313 In a section 9 proceeding under the Arbitration and Conciliation Act, 1996, interim protection must remain confined to what is necessary to secure the charged assets on a prima facie basis. The court found the bank-account freeze unjustified on the material then available because existing SARFAESI protection over the secured assets was sufficient and the restraint would interfere with ordinary business; the bank-account injunction was vacated. At the same time, the court sustained protection over disclosed and future investments covered by hypothecation, restraining disposal, transfer, or redemption of those assets and directing periodic financial disclosure. The interim order was therefore modified rather than wholly sustained or set aside. Case-Laws Indian Laws Wed, 18 Jun 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=773313