Court Orders Release of Attached Assets to Protect Creditors and Facilitate Corporate Insolvency Resolution Process (CIRP.

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Full Text of the Document

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....CIRP proceedings - The attachment of the assets of the Corporate Debtor by the Economic Offences Wing will hamper the claim of the Creditors of the Corporate Debtor and therefore to protect the interest of the Bank and the present Creditors, this Bench directs the Economic Offences Wing and other Government Departments to release the property and assets of the Corporate Debtor currently attached with them so that the Corporate Insolvency Resolution Process of the Corporate Debtor could be conducted in the substantial public interest.....