NCLAT Removes Rs 1 Crore FDR Lien in Trivenimudrai Project Settlement

NCLAT orders release of Rs 1 crore FDR lien held by Registrar following settlement between suspended director and corporate debtor.
Appeal disposed of after parties settled debt and default issues pertaining to Trivenimudrai Project Ltd.
Tribunal directs matter to proceed through Section 12A route of Insolvency and Bankruptcy Code.
Lien removal granted as appeal concluded and interim security purpose fulfilled.