https://www.taxtmi.com/caselaws?id=779329 NCLAT (PB) held the bank's refusal to release a fixed deposit opened by the corporate debtor on the ground of dues of an unrelated group company was unjustified. The lien letter only permitted retention for amounts due from the corporate debtor itself; absent any indebtedness by the corporate debtor under the facility, the bank lacked jurisdiction to retain the security. The tribunal affirmed the adjudicating authority's direction to remove the lien and release Rs.27.60 crores with interest. Appeal dismissed. en-us Thu, 25 Sep 2025 00:00:00 +0530 Sat, 04 Oct 2025 08:22:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=779329 NCLAT (PB) held the bank's refusal to release a fixed deposit opened by the corporate debtor on the ground of dues of an unrelated group company was unjustified. The lien letter only permitted retention for amounts due from the corporate debtor itself; absent any indebtedness by the corporate debtor under the facility, the bank lacked jurisdiction to retain the security. The tribunal affirmed the adjudicating authority's direction to remove the lien and release Rs.27.60 crores with interest. Appeal dismissed. Case-Laws IBC Thu, 25 Sep 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=779329