
Prashant Mara
4 days ago4 min read
No "Safe Harbour" for Proceeds of Crime under IBC
Prashant Mara and Sidharth S Kumar Corporate creditors and insolvency professionals already have their hands full running the Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). Add the Directorate of Enforcement (ED) attaching a corporate debtor’s properties under the Prevention of Money Laundering Act, 2002 (PMLA), and what you get is a problematic turf war between two statutes. In a recent ruling, the National Company Law Ap















