Delhi HC: PMLA attachment can't continue after IBC plan approval
In short
The Delhi High Court said a PMLA attachment made before a resolution plan is approved cannot keep going once Section 32A(2) of the Insolvency and Bankruptcy Code conditions are met.
What the reporting says
The Delhi High Court held that a PMLA attachment made before approval of a resolution plan cannot continue once the conditions under Section 32A(2) of the Insolvency and Bankruptcy Code are met.
Why it matters
The Delhi High Court ruled on the continued validity of a PMLA attachment after approval of an IBC resolution plan, with the protection under Section 32A(2) found to apply when its conditions are met. The decision concerns insolvency cases where assets were attached before resolution approval. The reported effect is that such attachment cannot continue once the statutory conditions are satisfied.