ORDER

Per: Kuldip Kumar Kareer, Member Judicial.

1. This is an application under Section 60 (5) of the Insolvency and Bankruptcy Code , 2016 (hereinafter referred to as “the Code”) filed by the Applicant being Monitoring Agency of the Corporate Debtor seeking directions to the Respondent, inter alia, to deposit all the amounts earned on the subject FD from the insolvency commencement date (i.e. from 20^th April, 2018) which have been wrongfully adjusted against the interest due on the working capital facility provided by the Respondent Bank, in the TRA Account of the Corporate Debtor bearing A/c No. 0004103000067111 maintained with IDBI Bank.

Case of the Applicant (in brief):

2. On 21^st April 2014, the Corporate Debtor had deposited with the Respondent Bank an amount of INR 6,45,00,000/- (Rupees Six Crores and Fourty-Five Lakhs Only) in a Fixed Deposit bearing A/c No. 495803020003715 (hereinafter referred to as “subject FD”).

3. The Corporate Insolvency Resolution Process (‘CIRP’) was commenced against the Corporate Debtor vide Order of this Tribunal dated 20^th April, 2018.

Thereafter, the resolution plan submitted by one Royale Partners Investment Fund Limited (being hereinafter referre