ORDER

1. This application has been filed by the Resolution Professional i.e. Mukesh Chand Jain under Section 14 of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred as “Code”) r/w Rule 11 of the NCLT Rules, 2016 against the Respondent i.e. Varun Media Pvt. Ltd. to defreeze the bank account of corporate debtor. The Applicant is seeking the following relief in the instant matter: -

a) To allow the present application and direct the Respondent to give instructions to the ICICI Bank to remove the debit freeze in the Bank account of the CD;

b) To give directions simultaneously to the ICICI Bank to remove the debit freeze from the Bank account of CD;

c) To pass any other order as deemed just and proper in the circumstances.

2. This Tribunal, vide its order dated 14.07.2023, passed an order for admission of the CD into CIRP under Section 7 of the Code and appointed Mr. Pradeep Kumar Ray, as the Resolution Professional of the Corporate Debtor. The CoC in its first meeting held on 18.08.2023 approved the appointment of Mr. Mukesh Kumar Jain as Resolution Professional. This tribunal approved the same v.o.d. 15.09.2023.

3. When the newly appointed RP took over the reins of the CD from