# In the matter of Suvidha Farming & Allied Ltd.

> NCLT judgment dated 2025-07-14. Citation: TCN-2025-NCLT-00793. The Applicant, appointed as the Resolution Professional (RP) by the Committee of Creditors…

- **Court:** NCLT
- **Order date:** 14 Jul 2025
- **Citation:** TCN-2025-NCLT-00793
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-indore/suvidha-farming-allied-ltd-080d3a62

## Summary

### Background

The Applicant, appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC), initiated Corporate Insolvency Resolution Process (CIRP). The Applicant informed the Respondent Bank about the Corporate Debtor's account balance, which was found to be frozen.

## Facts

Rajesh Kumar Sahu & Ors filed an application under Section 7 of the IBC.

The Applicant was appointed as the Resolution Professional (RP) by the Committee of Creditors (CoC) on 22.10.2020.

The Corporate Debtor's account with the Respondent Bank was found to be frozen.

The Applicant requested the Respondent Bank to defreeze the Corporate Debtor's account.

The Respondent Bank stated that the account was seized due to alleged fraud.

A moratorium under Section 14 of the Code has been declared.

## Issues and analysis

### Issue 1: Whether the Respondent Bank is obligated to defreeze the Corporate Debtor's account upon initiation …

**Ratio:** Section 17(1)(d) of the Insolvency and Bankruptcy Code, 2016, mandates the Bank to act on

…

**Reasoning:** The RP is under a statutory obligation to take control of the assets of the Corporate

…

**Interpretation:** The Bank is duty-bound to comply with the instructions of the RP regarding the

…

**Application:** The Adjudicating Authority directed the

…

## Parties

- **Judges:** Mohan Prasad…; SANJEEV S…
- **Appellants:** Rajesh Kuma…
- **Respondents:** Suvidha Farming &…
- **Other parties:** CMA Shaikh Nafis…
- **Advocates:** Natasha Dhruman…; Meena Cha…

## Timeline

- **2020-10-22 — Appointment…**: The Applicant was appointed as the Resolution Professional (RP) by the Committee of…
- **2020-11-25 — Notification…**: The Applicant notified the Respondent Bank regarding the initiation of CIRP and requested…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 7 — Initiation of corporate insolvency resolution…](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-7)

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