A freezing injunction order is an order passed by any court which then prevents the specific company from disposing-off their goods or selling their assets. It is therefore entertained by those parties who want some particular goods to be protected and ensure that they are protected under the court.
A plea for freezing of orders can be made before court procedures are issued. An application before the procedures begins can ensure resources if the candidate doubts that the other party will discard those assets before a judgment can be acquired. However, the freezing request can be called for even after the court has started its trial or issued any kind of judgment so that the party can put a hold to the disposal of assets before the court order is carried forward. A freezing order can likewise be looked for in help of the intervention of the proceedings. Only in some circumstances when a party can ask a court for a stay or free order for proceedings that are going on in overseas.
Freezing of injunction can only be subjected personally against the mentioned party. It can be released against any potential defaulters or a party who is holding the concerned assets on behalf of the defaulter person. The third party can also be a trustee or a bank.
If it gives the idea that the obligation is expected and owing, and there is a peril that the borrower may discard his advantages, in order to vanquish it under the watchful eye of judgment. Let us take an example of a party who holds its assets in India but is that point of time residing outside India then, the court can come forward and restrain the party from selling off its assets which are in India. Like in the case of Vijay Mallya, when Vijay Mallya was declared a bankrupt by the banks and he was residing outside India at the very moment, the court passed a freezing order on all its properties so that he could not sell all his property.
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