ED Property Attachment Unrelated to Insolvency Process; Applications Rejected u/s 60(5)(c) of Insolvency Code.

CIRP - Corporate debtor under liquidation - Action of ED attaching the property of CD - The summons/orders issued by the Enforcement Directorate/Adjudicating Authority/Appellate Authority under that law are related to some investigation about the affairs of the Corporate Debtor and its officers prior to the CIRP. It has no relation of whatsoever nature about the insolvency of the Corporate Debtor or its liquidation process. The prayers as made therein are not maintainable before this Adjudicating Authority invoking provisions under section 60(5)(c) of the IBC, 2016. Hence, applications to that extent need to be rejected. - Tri .....

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