PMLA not subservient to IBC; ED's power to attach properties not affected by Section 14 IBC moratorium: Delhi High Court

The Court said that the extent to which PMLA was intended to capitulate to the IBC is an issue which must be answered based on Section 32A of the IBC.

The Delhi High Court has held that the Enforcement Directorate’s (ED) power to attach properties under the Prevention of Money Laundering Act (PMLA) will not be affected by the moratorium which comes into effect in terms of Section 14 of the Insolvency and Bankruptcy Code (IBC) [Rajiv Chakraborty Resolution Professional of EIEL v Directorate of Enforcement].

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