The Delhi bench of the National Company Law Appellate Tribunal (NCLAT) ruled that the issuance of a Provisional Attachment Order (PAO) by the Directorate of Enforcement (ED) under the Prevention of Money Laundering Act, 2002 (PMLA), does not violate the moratorium under Section 14 of the IBC.
In this case, the appeal has been been filed under Section 61(1) of the Insolvency and Bankruptcy Code by Anil Kohli, the Resolution Professional (RP) for Dunar Foods Limited (Corporate Debtor), challenging the refusal of the Adjudicating Authority to direct the ED to release the provisionally attached assets of the Corporate Debtor.
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