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TMI Blog2021 (6) TMI 729X X X X Extracts X X X X X X X X Extracts X X X X ..... rt Mumbai Branch of Respondent No. 1, as no debit/hold account: b. Order and direct Respondent No. 1 to lift/release/remove/revoke the no debit/hold imposed on the bank account of Corporate Debtor being bank account No. 00600310002807 at Fort Mumbai Branch of Respondent No. 1, and permit all banking activities with respect thereto in accordance with the instructions of the Applicant and/or his authorised representatives; c. Restrain Respondent No. 1 from transferring or making payments from the bank account of the Corporate Debtor maintained with it to any third party, without the prior written consent of the Applicant and/or his authorised representatives; d. Set-aside and quash the Order/Recovery Notice dated 21st November, 2020 (Ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the process of issuing necessary communication to Nashik Mahanagar Palika. The Applicant also highlighted that as per section 17(1)(d) of the Code all financial institutions maintain the bank accounts of the Corporate Debtor are required to act as per the instructions of the RP and thus instructed the Respondent No. 1 to remove the debit freeze action. On February 6, 2020, the Respondent No. 1 released the no debit status from the subject bank account. 4. Once again in December, 2020 the Applicant learned that the subject bank account was again marked under no debit status on 3rd December, the representatives of the Corporate Debtor addressed an email to Respondent No. 1 inter alia seeking reasons for marking the subject bank account as no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e, further the tax dues claimed by the Assistant Collector informing them about the ongoing CIRP and imposition of moratorium in terms of section 14 of the Code, and the tax dues claimed by the Assistant collector shall be treated as claims in terms of the Code, the Applicant further urged to recall the recovery action. Despite the said letter the Respondent No. 2 has not recalled the action under the recovery notice. 9. In the month January, 2020 the Corporate Debtor received an amount of Rs. 7,90,23,820/- from the Income Tax Department in the subject bank account. On 21.01.2021 the Applicant addressed an email to Respondent No. 1 informing that the Corporate Debtor received the monies and that the Applicant during the process of issuing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 25.09.2019, the Applicant has taken over the management and business and affairs of the Corporate Debtor. The Corporate Debtor holds a Current Account with Fort Mumbai Branch of the Respondent No. 1 being bank account no. 00600310002807 and the said account was freezed by the Respondent No. 1 Bank in terms of order passed by Respondent No. 2. The order of attachment/recovery notice dated 21.11.2020 is passed subsequent to the admission of the CIRP against the Corporate Debtor, the Respondent No. 2 in terms of the recovery notice dated 21.11.2020, claimed an outstanding commercial tax dues for the year 2014-15 an order of attachment of bank accounts in exercise of powers conferred under section 173, Rule 153 of Uttar Pradesh Revenue Code, 2 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the facts of the present case and settled legal position, this Bench is of the considered view that in view of the admission of CIRP on 25.09.2019, moratorium is imposed instantaneously, the order of Respondent No. 2 directing Respondent No. 1 to freeze the account of the Corporate Debtor vide an order of attachment dated 21.11.2020 is in contravention of the moratorium imposed under section 14 of the Code, and interferes with the role of the RP in managing the affairs/business and management of the Corporate Debtor under section 17, 18, 20 and 23 of the Code. In view of section 25 the RP is duty bound to take immediate control of all the assets of the Corporate Debtor and hence has rightly sought for the defreezing action from the Respond ..... X X X X Extracts X X X X X X X X Extracts X X X X
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