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2019 (10) TMI 1282 - AT - Insolvency and BankruptcyJurisdiction - power of 'Directorate of Enforcement' to attach the property of the 'Corporate Debtor' or part thereof - CIRP process undergoing - Operational Creditor or not - Proceeds of crime - HELD THAT:- The stand taken by the 'Directorate of Enforcement', is contrary to the stand taken by the Government of India, the order of attachment dated 10th October, 2019 passed by the Deputy Director, 'Directorate of Enforcement' with regard to part property of the 'Corporate Debtor' (Bhushan Power & Steel Limited) is stayed. The Director, Deputy Director and other officers of 'Directorate of Enforcement' are prohibited from attachment of any property of the 'Corporate Debtor' (Bhushan Power and Steel Limited) without prior approval of this Appellate Tribunal. The property already attached by them be released in favour of the 'Resolution Professional' immediately. Further, to ensure that the 'resolution plan' is not given effect before deciding the issue, we stay the impugned order dated 5th September, 2019, so far it relates to the payment of the creditors. Post the case 'for orders' on 25th October, 2019 on the top of the list.
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