https://www.taxtmi.com/caselaws?id=763618 Provisionally attached properties of a corporate debtor were directed to be handed over to the successful resolution applicant under the restoration mechanism in Section 8(8) of the Prevention of Money Laundering Act, 2002 read with Rule 3A of the Prevention of Money Laundering (Restoration of Property) Rules, 2016. The direction was based on the parties' consensus and the peculiar facts, including that the attachment was made after approval of the resolution plan. The Court expressly left undecided the interaction with Section 32A of the Insolvency and Bankruptcy Code, 2016, the merits of the connected appeals, and the Enforcement Directorate's power to attach property during insolvency resolution, while preserving the parties' rights and contentions. en-us Wed, 11 Dec 2024 00:00:00 +0530 Tue, 24 Dec 2024 08:28:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=763618 Provisionally attached properties of a corporate debtor were directed to be handed over to the successful resolution applicant under the restoration mechanism in Section 8(8) of the Prevention of Money Laundering Act, 2002 read with Rule 3A of the Prevention of Money Laundering (Restoration of Property) Rules, 2016. The direction was based on the parties' consensus and the peculiar facts, including that the attachment was made after approval of the resolution plan. The Court expressly left undecided the interaction with Section 32A of the Insolvency and Bankruptcy Code, 2016, the merits of the connected appeals, and the Enforcement Directorate's power to attach property during insolvency resolution, while preserving the parties' rights and contentions. Case-Laws Money Laundering Wed, 11 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=763618