https://www.taxtmi.com/caselaws?id=796229 Attached assets covered by an approved resolution plan may be restored to successful resolution applicants under the second proviso to Section 8(8) of the Prevention of Money Laundering Act where they are bona fide claimants with a legitimate interest. The consensual restitution arrangement released the covered bank balances and residential units, and excluded any enforcement lien over assets forming part of the plan. Section 32A of the Insolvency and Bankruptcy Code protected the corporate debtor after resolution, provided the successful applicants lacked links to former management and were not beneficiaries of proceeds of crime. The corporate debtor was removed from the prosecution complaint, while proceedings against former management and other liable persons continued. Questions of law remained open and the order was non-precedential. en-us Thu, 16 Jul 2026 00:00:00 +0530 Mon, 03 Aug 2026 12:28:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796229 Attached assets covered by an approved resolution plan may be restored to successful resolution applicants under the second proviso to Section 8(8) of the Prevention of Money Laundering Act where they are bona fide claimants with a legitimate interest. The consensual restitution arrangement released the covered bank balances and residential units, and excluded any enforcement lien over assets forming part of the plan. Section 32A of the Insolvency and Bankruptcy Code protected the corporate debtor after resolution, provided the successful applicants lacked links to former management and were not beneficiaries of proceeds of crime. The corporate debtor was removed from the prosecution complaint, while proceedings against former management and other liable persons continued. Questions of law remained open and the order was non-precedential. Case-Laws Money Laundering Thu, 16 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796229