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2022 (6) TMI 622 - AT - Insolvency and BankruptcyJurisdiction - power/authority of Respondent No.1/Resolution Professional (RP) to freeze Bank Accounts - HELD THAT:- On going through the impugned order passed by the ‘Adjudicating Authority’ (National Company Law Tribunal) Division Bench-II, Chennai, it is clear that the ‘Adjudicating Authority’ had not addressed the legal aspect(s) of the matter that whether the Respondent No.1 / Resolution Professional had any authority in Law to freeze Bank Account belonging to the Appellant. Since that aspect of the matter was not addressed by the ‘Adjudicating Authority’ and the same is conspicuously absent at the time of passing of the impugned order, this ‘Tribunal’, is constrained to interfere with the said order, and sets aside the same because of the fact that the Respondent No.1 / Resolution Professional, in Law has only ‘An Authority’ to exercise control over Bank Accounts operated by the ‘Corporate Debtor’ and not otherwise. Appeal allowed.
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