M/S Preventive Pulse Healthcare Pvt. Ltd. v. Idfc First Bank and Ors.
Case brief
What is this about?
A company's bank account was frozen at the instance of respondent no. 2, causing financial hardship. The court permitted operation of the account subject to a lien of Rs. 11,32,851.66 held by the respondent bank and allowed recourse to the MHA SOP for defreezing.
What did the court decide?
Account No. 88517669233 permitted to be operated subject to lien of Rs. 11,32,851.66 by respondent bank; petitioner may pursue defreezing via MHA SOP.