Properties covered under approved resolution plan cannot be provisionally attached u/s 5(1) of PMLA

Canara Bank Vs Deccan Chronicle Holdings Limited (NCLT Hyderabad) NCLT Hyderabad held that provisional order of attachment u/s. 5(1) of the PMLA of the properties of the corporate debtor covered under the approved resolution plan would not wipe of the protection available to such properties u/s. 32A of I&B Code. Facts- The present application is filed by SREI Multiple Assets Investment Trust – Vision India Fund, the successful Resolution Application of Deccan Chronicle Holdings Limited mainly praying that declaration that the assets and/or properties of the Corporate Debtor which form pa...