Fixed Deposit Receipts Form Part Of Corporate Debtor's Financial Assets, RP Can Seek Their Defreezing & Take Custody: NCLT New Delhi

The NCLT, New Delhi, has ruled that a Resolution Professional (RP) can seek the defreezing and take custody of fixed deposit receipts (FDRs), as they form part of a corporate debtor's financial assets. The tribunal’s decision clarifies the powers of an RP under the IBC. The ruling ensures that an RP has access to all the financial assets of a corporate debtor, which is essential for the resolution process. This judgment is a crucial precedent for insolvency professionals and banks.