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2021 (3) TMI 628 - Tri - Insolvency and BankruptcySeeking directions from this tribunal in discharging his duties (Resolution Professional) in Corporate Insolvency Resolution Process (CIRP) of Independent TV Limited. - Section 19(2) & (3) and Section 60(5) of IBC - HELD THAT:- This Bench is of the considered view that there is a clear case of negligence and lapse on the part of Respondent No.4 Bank in observing normal banking prudence in this case and the Bench hereby orders that Respondent No.4 Bank will immediately make good of ₹ 44,90,000/- withdrawn from the Bank Account of the Corporate Debtor by the persons who were not authorized to sign on behalf of the Company on the date allowing the transactions from the Bank Account of the Corporate Debtor. The plea of the Respondent No.4 Bank that a meager amount of ₹ 561.11/- was standing to the credit of the Corporate Debtor as on the date of initiation of Corporate Insolvency Resolution Process is not tenable as during course of Corporate Insolvency Resolution Process, there are going to be deposits and payments from the Bank Account of the Corporate Debtor in the normal course of the business, wherein the monies will be credited to bank account of the Corporate Debtor in normal course of business, and debit entries can be effected by the Bank on the instructions received from the Authorized signatory of the bank account only. The order of this Court is to be complied within 15 days by the Respondent No.4 Bank. However, since a fraud has been committed against the Respondent No.4 Bank, the Respondent No.4 Bank is free to initiate Criminal/Civil actions against the other Respondents and/or against any other persons involved in committing fraud against the Respondent No.4 Bank. The compliance be reported by the Respondent No.4 Bank by way of an affidavit to this bench.
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