https://www.taxtmi.com/caselaws?id=401522 The Tribunal held that Section 32A of the Insolvency & Bankruptcy Code applies to both Corporate Insolvency Resolution Process (CIRP) and liquidation proceedings, providing immunity against prosecution and preventing action on the debtor's property. The Liquidator was granted permission to sell the attached assets of the Corporate Debtor under Section 32A without requiring de-attachment. The Tribunal emphasized that the new provision supersedes prior judicial decisions and allows for the sale of attached assets. The respondents were directed to cooperate with the Liquidator, and the application was disposed of without costs. en-us Wed, 22 Jul 2020 00:00:00 +0530 Thu, 10 Dec 2020 08:21:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401522 The Tribunal held that Section 32A of the Insolvency & Bankruptcy Code applies to both Corporate Insolvency Resolution Process (CIRP) and liquidation proceedings, providing immunity against prosecution and preventing action on the debtor's property. The Liquidator was granted permission to sell the attached assets of the Corporate Debtor under Section 32A without requiring de-attachment. The Tribunal emphasized that the new provision supersedes prior judicial decisions and allows for the sale of attached assets. The respondents were directed to cooperate with the Liquidator, and the application was disposed of without costs. Case-Laws Insolvency and Bankruptcy Wed, 22 Jul 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401522