Provisional Attachment Order ceases by virtue of legislative scheme u/s. 32A of IBC

Vantage Point Asset Management Pte. Limited Vs Gaurav Misra Resolution Professional of Alchemist Infra Reality Limited & Anr. (NCLAT Delhi) NCLAT Delhi held that that Provisional Attachment Order has to be treated to cease by virtue of legislative scheme under Section 32A of the Insolvency and Bankruptcy Code and there is no necessity to obtain any order by the SRA from the adjudicating authority under the PMLA. Facts- This Appeal has been filed by the Appellant a Successful Resolution Applicant (“SRA”) challenging the order passed by National Company Law Tribunal, New Delhi Bench (C...