Successful Resolution Applicant (SRA) is entitled to relief of extension of benefit of protection of Section 32A of IBC to lift the attachment under PMLA by Enforcement Directorate over the assets of the Corporate Debtor – Vantage Point Asset Pte. Ltd Vs. Gaurav Misra, RP of Alchemist Infra Reality Ltd. – NCLAT New Delhi

In this case, the NCLT while approving the Rplan, refused to grant prayer made by the SRA for release of the assets attached by ED under PMLA. Hon’ble NCLAT referring judgments in Shiv Charan and Ors. vs. Adjudicating Authority and Anr. (2024) ibclaw.in 154 HC, Rajiv Chakraborty vs. Directorate of Enforcement (2022) ibclaw.in 257 HC and Manish Kumar vs. Union of India and Anr. (2021) ibclaw.in 16 SC allowed the reliefs and set aside relevant portion from the impugned order and held that the SRA is entitled to relief of extension of benefit of protection of Section 32-A to lift the attachment by Enforcement Directorate over the assets of the Corporate Debtor.

Related Posts:

If any Public depositor applies showing due of the debt claiming itself as operational creditor and the Resolution Professional or the Tribunal do not accept the claim on the ground that they are not financial creditor, we allow the appellant to raise the question before the Tribunal and if any adverse decision is given by the Tribunal, it will be open to the appellant to raise the issue before NCLAT- Hind Motors India Ltd. Vs. Adjudicating Authority NCLT, Chandigarh – NCLAT New Delhi

IBC-Case Laws-NCLAT
Scroll to Top