PMLA and IBC: How Section 32A Protects a Corporate Debtor’s Assets from ED Attachment
What happens when the ED attaches the assets of a company that is going through insolvency? Section 32A of the IBC gives a powerful answer: once a resolution plan is approved and the management changes, the corporate debtor gets a “clean slate”, and prior ED attachments over its assets fall away. This guide explains the PMLA–IBC interplay in simple language — how Section 32A works, what the Supreme Court held in Manish Kumar, and how successful resolution applicants protect their assets — using only verified case laws.