https://www.taxtmi.com/caselaws?id=399288 The Tribunal declined to interfere with the Provisional Attachment Order issued by the Enforcement Directorate against a corporate debtor in liquidation, allowing the liquidator to open a new account for operational needs. The Tribunal refrained from immediate intervention on the jurisdiction issue, emphasizing the need for a final decision by the NCLAT. The recent amendment to the Insolvency and Bankruptcy Code, particularly Section 32A, was highlighted, with ongoing discussions on its applicability to corporate debtors in CIRP. Recognizing the importance of maintaining the corporate debtor's going concern status, the Tribunal balanced the need for operational functionality with oversight through monthly reporting requirements. en-us Fri, 31 Jan 2020 00:00:00 +0530 Thu, 08 Oct 2020 11:43:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399288 The Tribunal declined to interfere with the Provisional Attachment Order issued by the Enforcement Directorate against a corporate debtor in liquidation, allowing the liquidator to open a new account for operational needs. The Tribunal refrained from immediate intervention on the jurisdiction issue, emphasizing the need for a final decision by the NCLAT. The recent amendment to the Insolvency and Bankruptcy Code, particularly Section 32A, was highlighted, with ongoing discussions on its applicability to corporate debtors in CIRP. Recognizing the importance of maintaining the corporate debtor's going concern status, the Tribunal balanced the need for operational functionality with oversight through monthly reporting requirements. Case-Laws Insolvency and Bankruptcy Fri, 31 Jan 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399288