Bank Account Freeze Unlawful Based Only on ROC ‘Management Dispute’ Tag: Calcutta HC

Ravindra Pratap Singh Vs Reserve Bank of India (Calcutta High Court) Calcutta High Court held that marking of company with ‘management dispute’ by ROC has nothing to do with transaction of the company with its banker. Hence, freezing of bank account based on the same is unlawful. Facts- The present appeals arise out of a common order passed in connection with three different applications. The backdrop of the case is that an application was filed under Article 226 of the Constitution of India by the present appellant against an order whereby the bank accounts of the appellant no.2-Company,...