https://www.taxtmi.com/caselaws?id=403898 The court addressed the conflict between the provisional attachment under the Prevention of Money Laundering Act (PMLA) and the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). It noted that the Enforcement Directorate's (ED) attachment post-approval of the resolution plan contravened Section 32A of the IBC, emphasizing the plan's binding nature. The court granted interim relief, staying proceedings related to the attachment order, pending asset monetization details from the petitioner. The matter was scheduled for the next hearing on 18th May 2021 for further submissions and responses. en-us Mon, 08 Feb 2021 00:00:00 +0530 Wed, 10 Feb 2021 09:33:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=403898 The court addressed the conflict between the provisional attachment under the Prevention of Money Laundering Act (PMLA) and the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code (IBC). It noted that the Enforcement Directorate's (ED) attachment post-approval of the resolution plan contravened Section 32A of the IBC, emphasizing the plan's binding nature. The court granted interim relief, staying proceedings related to the attachment order, pending asset monetization details from the petitioner. The matter was scheduled for the next hearing on 18th May 2021 for further submissions and responses. Case-Laws Money Laundering Mon, 08 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=403898