The Resolution Professional of Sindhu Cargo Services Private Limited filed an application (IA No. 864/2024) seeking reliefs against Yes Bank Limited for allegedly violating the moratorium imposed under Section 14 of the Insolvency and Bankruptcy Code, 2016.
The Company Petition bearing C.P (IB) No.71/BB/2023 was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Union Bank of India to initiate Corporate Insolvency Resolution Process (‘CIRP') against Corporate Debtor was admitted on 28.05.2024.
Shirley Mathew was appointed as Interim Resolution Professional (“IRP”) of the Corporate Debtor.
The Corporate Debtor maintained a current account and three fixed deposits with Yes Bank Limited.
The balance in the Corporate Debtor's current account as on 28.05.2024 was an overdraft of ₹4,58,76,881.86.
The Respondent Bank appropriated a total sum of ₹5,00,00,000/- from the fixed deposits of the Corporate Debtor on 12.07.2024 and 03.09.2024.
…Sign in to view the parties.
Corporate Insolvency Resolution Process…
The balance in the…
The Resolution Professional of Sindhu Cargo Services Private Limited filed an application (IA No. 864/2024) seeking reliefs against Yes Bank Limited for allegedly violating the moratorium imposed under Section 14 of the Insolvency and Bankruptcy Code, 2016.
The Company Petition bearing C.P (IB) No.71/BB/2023 was filed under Section 7 of the Insolvency and Bankruptcy Code, 2016 by Union Bank of India to initiate Corporate Insolvency Resolution Process (‘CIRP') against Corporate Debtor was admitted on 28.05.2024.
Shirley Mathew was appointed as Interim Resolution Professional (“IRP”) of the Corporate Debtor.
The Corporate Debtor maintained a current account and three fixed deposits with Yes Bank Limited.
The balance in the Corporate Debtor's current account as on 28.05.2024 was an overdraft of ₹4,58,76,881.86.
The Respondent Bank appropriated a total sum of ₹5,00,00,000/- from the fixed deposits of the Corporate Debtor on 12.07.2024 and 03.09.2024.
…Corporate Insolvency Resolution Process…
The balance in the…