TaxTMI Login
AI Drafter - (New and Powerful) ✕
Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Just a moment...
AI Drafter - (New and Powerful) ✕ Generate professional replies, appeals, opinions to Show Cause Notices, assessment orders, audit objections, and other legal communications using TaxTMI's AI Drafter.
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether provisional attachment of the corporate debtor's property after commencement of liquidation was barred by Section 32A of the Insolvency and Bankruptcy Code, 2016.
Analysis: The corporate debtor had been admitted into corporate insolvency resolution process on an application under Section 9 of the Insolvency and Bankruptcy Code, 2016, and thereafter ordered to be liquidated under Section 33 of the Insolvency and Bankruptcy Code, 2016. The provisional attachment order was passed after the liquidation order. Section 32A of the Insolvency and Bankruptcy Code, 2016 bars action against the property of the corporate debtor in relation to prior offences where the property is covered under liquidation and, by explanation, expressly includes attachment, seizure, retention and confiscation. On that basis, the post-liquidation provisional attachment and its confirmation could not be sustained.
Conclusion: The provisional attachment and its confirmation were hit by Section 32A of the Insolvency and Bankruptcy Code, 2016 and were set aside in favour of the appellant.
Ratio Decidendi: After liquidation of a corporate debtor, action against its property for a prior offence, including attachment, is barred by Section 32A of the Insolvency and Bankruptcy Code, 2016.
TaxTMI 
