https://www.taxtmi.com/caselaws?id=386029 The Adjudicating Authority dismissed the Liquidator's application for asset release, emphasizing that PMLA proceedings are not subject to Section 14 of the I&B Code. The judgment distinguished between penal actions under the PMLA and the I&B Code, affirming that attachments made before insolvency proceedings do not benefit the Resolution Professional. The appeal was dismissed, aligning with principles from the Varrsana Ispat Limited case. en-us Tue, 02 Jul 2019 00:00:00 +0530 Mon, 11 Nov 2024 15:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386029 The Adjudicating Authority dismissed the Liquidator's application for asset release, emphasizing that PMLA proceedings are not subject to Section 14 of the I&B Code. The judgment distinguished between penal actions under the PMLA and the I&B Code, affirming that attachments made before insolvency proceedings do not benefit the Resolution Professional. The appeal was dismissed, aligning with principles from the Varrsana Ispat Limited case. Case-Laws IBC Tue, 02 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386029