SC Dismisses IBC Challenge to Benami Attachment Because NCLT Lacks Jurisdiction

S. Rajendran Vs DCIT (Benami Prohibition) & Ors. (Supreme Court of India) The Supreme Court dismissed a batch of appeals challenging orders of the National Company Law Appellate Tribunal (NCLAT), which had upheld the decisions of the National Company Law Tribunal (NCLT) declining jurisdiction to entertain challenges against provisional attachment orders passed under the Prohibition of Benami Property Transactions Act, 1988 (Benami Act). The core issue was whether attachment orders under the Benami Act could be questioned before authorities under the Insolvency and Bankruptcy Code, 2016 (IB...