Benefit of S. 32A of IBC to Lift ED’s Attachment Allowable to Successful Resolution Applicant: NCLAT

The Tribunal allowed to lift the properties of the corporate debtor from the attachment by ED under the Prevention of Money Laundering Act (PMLA)
By Yogitha S. Yogesh - On October 11, 2024 9:07 pm - 2 mins read
NCLAT - NCLAT New delhi - Section 32A IBC benefit - ED attachment lifted - Successful Resolution Applicant - taxscan

The National Company Law Appellate Tribunal ( NCLAT ), Principal Bench, New Delhi observed that the benefit of section 32A of the Insolvency and Bankruptcy Code ( IBC ), 2016  will be extended to the new management of the Alchemist Infra Reality Ltd., the corporate debtor after the approval of resolution plan. The Tribunal  allowed…

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