An order of the Hon’ble High Court shall be binding on the Adjudicating Authority (Tribunal) established under Section 419(4) of the Companies Act, 2013 exercising Territorial Jurisdiction – M/s. Indra Marshal Power Pvt. Ltd. Vs. M/s. Akshaya Irrigation Products Pvt. Ltd. – NCLAT Chennai

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PMLA would cease to have the power to attach the property at this juncture when the order of the Liquidation under IBC has already been passed – Mr. Satyendra P. Khorania Liquidator of M/s Emgee Cables and Communications Ltd. Vs. Deputy Director, Jaipur Zonal Office, Directorate of Enforcement – NCLT Jaipur Bench

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Adjudicating Authority by adopting a process of taking two bids cannot conclude the sale of a Corporate Debtor without giving an opportunity to Liquidator to take steps for private sale – State Bank of India Vs. Bhuvee Stenovate Pvt. Ltd. & Ors. – NCLAT New Delhi

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Avoidance applications under IBC can be heard after conclusion of CIRP and benefits derived from adjudication will be appropriated by Creditors and Resolution Professional will pursue the avoidance applications since he is only functus officio vis-à-vis CIRP and not avoidance applications – Tata Steel BSL Ltd. Vs. Venus Recruiterprivate Ltd. & Ors – Delhi High Court

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A bare perusal of Sections 17, 18, 19(19), 31 and 34 of Recovery of Debts & Bankruptcy Act, 1993 shows that the DRT is having exclusive jurisdiction to deal with the recovery of the secured creditors and is having an overriding effect over all other laws – The Specified Undertaking of The Unit Trust of India Vs. M/s Derby Textiles Ltd. – Rajasthan High Court

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