Case Law Analysis
|Bombay High Court
Section 32A IBC | Pre-CIRP Attachments Under MPID Act Extinguished Upon Resolution Plan Approval If Debtor Was Not Accused : Bombay HC
The Bombay High Court has ruled that Section 32A of the IBC wipes out pre-CIRP attachments made under the MPID Act when a corporate debtor was never named as an accused, affirming the clean slate principle even for properties attached before insolvency. This shields resolution applicants from legacy liabilities, reinforcing the IBC’s intent to restore operational viability without collateral legal entanglements.