While 'A' company was undergoing liquidation proceedings at NCLT and sale process of 'A' as a going concern was ongoing, the liquidator (while managing 'A' company) had executed an agreement with one of the many project partners/joint ventures of 'A' company, namely 'B' company, wherein 'B' and 'A' (through the liquidator) gave irrevocable sole authority to 'B' to manage the said project as well as the bank account attached to it.
Now the liquidator has sold 'A' company as a going concern to 'C' and 'C' in his capacity as the new director of 'A' want to cancel the sole authorization and has given a letter to the bank in this respect.
Should bank refuse the representation made by 'C' and continue running the account as usual or freeze the account and ask for court order.
Please enlighten
