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2022 (2) TMI 421 - AT - Insolvency and BankruptcyCreation of fixed deposits from the monies received in the Escrow Accounts of RMGL and RMGSL with the relevant escrow bank (with whom the escrowed amounts are currently deposited) - Seeking direction that creation of such fixed deposits would not amount to an appropriation of the monies lying in the respective Escrow Account - HELD THAT:- The matter being pending, this Tribunal does not lack any jurisdiction to issue any direction but the question which we have to consider is as to whether the amount which is lying in the Escrow Account should be directed to be kept in the fixed deposits in a Nationalised Bank. As noticed above, after the judgment of the Hon’ble Supreme Court on 26.03.2020, an Application was filed in the Hon’ble Supreme Court seeking clarification to the same effect that the order does not prohibit keeping the account in the fixed deposits which Application was rejected. Since Applications are already fixed on 24.02.2022 for consideration of the interim distribution and appropriation, we see no necessity to direct that the amount to be kept in the fixed deposits in a Nationalised Bank. We recall our order dated 01.12.2021 for keeping the amount in fixed deposits and prayers in I.A No. 2404 of 2021 as on date cannot be granted - Application disposed off.
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