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NCLT Declines Immediate DSRA Release Due to Unresolved Questions Over Missing Fixed Deposits
Case Law Details
- Case Name
- Catalyst Trusteeship Limited Vs Union of India (NCLT Ahmedabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- NCLT
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Catalyst Trusteeship Limited Vs Union of India (NCLT Ahmedabad)
The present Interlocutory Application (IA No. 129 of 2025) was filed by the Applicant, acting as Debenture Trustee, seeking modification of the NCLT Ahmedabad’s ex parte order dated 28.05.2025 in Company Petition No. 33 of 2025. The Applicant requested permission for ICICI Bank Limited to release ₹9.15 crore lying in the Debt Service Reserve Account (DSRA), which was stated to be lien-marked in its favour under the Debenture Transaction Documents.
The Applicant submitted that Blu-Smart Charge Private Limit...
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