HC stays attachment of Properties by ED after approval of resolution plan by NCLT

Union Bank Of India E Andhra Bank Vs Union Of India & Ors. (Delhi High Court) Considering the fact that the resolution plan has already been approved in this matter, and that the ED’s order of provisional attachment of the properties of Respondent No. 4 has been passed after the approval of the resolution plan by the NCLT, the said provisional attachment would prima facie be contrary to Section 32A of the IBC. Accordingly, till the next date in this matter, there shall be a stay of the proceedings in ECIR No. ECIR/HYZO/02/20 18 before the Adjudicating Authority arising out of the provisi...