2018 (9) TMI 1478

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....hri Madan B. Gosavi, Member (J) Mr. Jishnu Chowdhury, Advocate, Mr. Rohit Sharma, Pr.CS, Mr. Abhijit Kumar Bhadra, Advocate: Liquidator ORDER This application is filed by the Liquidator under section 35(1)(n) of the Insolvency & Bankruptcy Code, 2016 (in short, I&B Code) seeking orders against the Directorate of Enforcement, New Delhi to release the attachment of the assets of the Corpora....

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....rties of the Corporate Debtor as described in this application are attached during the investigation of above crime. The properties are the proceeds of the crime. Their attachment is under the orders of PMLA Court, New Delhi. Attachment cannot be removed. Hence application may be rejected. 4. I heard the Ld. Pr.CS for the Liquidator and the Ld. Counsel appearing on behalf of the Enforcement Dir....

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....t, 1956 and the secured creditors and the workmen, preferential creditors having statutory dues would be totally deprived of their legitimate claims against the company in liquidation whereas the depositors under the provisions of the MPID Act would exclusively be benefited under the provisions of said MPID Act, which would result in great mischief." 5. The above ruling completely raises the co....

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....appropriated. The Liquidator must get possession of those properties attached by the Enforcement Director, New Delhi. With this, I allow the application and pass the following order: ORDER The Enforcement Directorate, Delhi Zonal Office-II, New Delhi to hand over the possession of attached properties of the Corporate Debtor under liquidation to the Liquidator, which he has attached by Order ....