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2021 (6) TMI 729 - Tri - Insolvency and BankruptcySeeking release of attached Bank Accounts - moratorium was already imposed - seeking restraint from transferring or making payments from the bank account of the Corporate Debtor maintained with it to any third party - HELD THAT:- 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 Respondent No. 1 - The Respondent No. 1 further has appeared in the Court and indicated that they have no objection for defreezing the bank account. The order of attachment passed by the Respondent No. 2, i.e. The Assistant Collector, Division-19, Commercial Tax, Lucknow dated 21.11.2020 is hereby set aside - application allowed.
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