Bank Can Classify Corporate Debtor's Account As Fraud During CIRP, Such Classification Is Not Hit By S.14 Of IBC: NCLT Mumbai

The National Company Law Tribunal (NCLT) Mumbai bench of Sh. Prabhat Kumar (Technical Member) and Justice Virendrasingh Bisht (Retd.) (Judicial Member) has held that a bank is empowered to classify the account of the Corporate Debtor as fraud even during the currency of the CIRP and such classification is not hit by section 14 of the IBC. The present application has been...