Approval of Resolution Plan

Bombay High Court: Enforcement Directorate Should Necessarily Release Attachment over Assets of a Corporate Debtor after Approval of Resolution Plan

In the matter of Shiv Charan and Others v. Adjudicating Authority and Others, a division bench of the esteemed Bombay High Court has pronounced upon the legal status pertaining to attachments made by the Enforcement Directorate over assets belonging to a corporate debtor which has obtained approval for a resolution plan under the provisions of the Insolvency and Bankruptcy Code, 2016.