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TMI Blog2017 (12) TMI 1035X X X X Extracts X X X X X X X X Extracts X X X X ..... n Overseas Bank’ come within the definition of ‘Financial Creditor’ as defined in Section 5(7) of the ‘I&B Code’, it is always open to the Appellant- Indian Overseas Bank’ to file its claim before the ‘Interim Resolution Professional’ for getting the amount back. If the Appellant claims to be ‘Financial Creditor’ and files such claim before the ‘Interim Resolution Professional’ showing the principal amount and interest thereon, the ‘Interim Resolution Professional will consider the same and the Appellant being ‘Financial Creditor’ may be taken in the Committee of Creditors’. We find no merit in this appeal, therefore, we are not inclined to interfere with the impugned order dated 13th October, 2017. - Company Appeal (AT) (Insolvency) No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 2002 (54 of 2002); (d) the recovery of any property by an owner or lessor where such property is occupied by or in the possession of the corporate debtor. 2. As per Section 17 (1) (d) of the I B Code , the financial institutions maintaining the accounts of the Corporate Debtor have to act on the instructions of the Interim Resolution Professional in relation to such accounts and furnish all information relating to the Corporate Debtor available with them to the Interim Resolution Professional . The Appellant-Indian Overseas Bank , Hosur Branch is one of the Financial Creditor of the Corporate Debtor and constitutes 4.08% of the total value of the financial debt. The Corporate Debtor is maintaining an account with the A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in CP (IB) No. 42/Chd/Hry/2017. 4. Learned counsel for the Appellant has taken similar plea as was taken before the Adjudicating Authority that the amount of Corporate Debtor lying in the Hosur Branch of Appellant- Indian Overseas Bank was neither a security interest nor an asset of the Corporate Debtor and the Corporate Debtor having borrowed the amount from the Appellant-Indian Overseas Bank , the amount required to be appropriated to the dues. 5. Having heard learned counsel for the Appellant, we do not accept the submissions made on behalf of the Appellant in view of the fact that after admission of an application under Section 7 of the I B Code , once moratorium has been declared it is not open to any person including ..... X X X X Extracts X X X X X X X X Extracts X X X X
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