2019 (1) TMI 1824

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....nd on due consideration of the facts of the Application, along with relevant case laws as cited by the Respondent i.e. Dy. Collector / Competent Authority (NSEL), this Bench is of the view that on pronouncement of moratorium, attachment of one of the banks described below is hampering the process of CIRP: Sr. No. Bank Account No. Bank Name & Branch Holder Name 1. A/c No. 19523200....

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....t 20 bank accounts of the defaulter maintained with State Bank of India, various branches, Canara Bank, Bank of Baroda, etc. the action is secured. Therefore, this Bench is of  the view that in a situation when rest of the bank accounts are already under attachment hence, no prejudice is going to be caused if one bank account as described supra maintained with HDFC Bank, Karnal be de-freezed.....

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....of the hour. Due to this reason, this Bench of NCLT, Mumbai is hereby expressing a view that an order be passed by the Hon'ble Competent Authority to de-freeze the said account so that the appointed IRP can continue with the insolvency proceedings. One of the requirements of the Insolvency & Bankruptcy Code, 2016, as per the preamble, is to maximise the value of assets and reorganize the business ....