https://www.taxtmi.com/caselaws?id=380191 The Tribunal held that the Corporate Insolvency Resolution Process (CIRP) proceedings should not be stayed due to a provisional attachment order under the Prevention of Money Laundering Act, 2002. It was determined that the Resolution Professional could proceed with the CIRP despite the attachment order, as it did not affect the corporate debtor's ownership rights. The Tribunal emphasized the co-existence of various laws and allowed the RP to take control of the assets. The case was decided in favor of continuing the CIRP proceedings without abeyance. en-us Fri, 26 Apr 2019 00:00:00 +0530 Thu, 16 May 2019 07:31:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=380191 The Tribunal held that the Corporate Insolvency Resolution Process (CIRP) proceedings should not be stayed due to a provisional attachment order under the Prevention of Money Laundering Act, 2002. It was determined that the Resolution Professional could proceed with the CIRP despite the attachment order, as it did not affect the corporate debtor's ownership rights. The Tribunal emphasized the co-existence of various laws and allowed the RP to take control of the assets. The case was decided in favor of continuing the CIRP proceedings without abeyance. Case-Laws Insolvency and Bankruptcy Fri, 26 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=380191