In the case of Shiv Charan and Ors.

In the case of Shiv Charan and Ors. v Adjudicating Authority and Anr.¹, the Division Bench of the Hon’ble High Court of Bombay (“Bombay HC”) inter alia upheld the powers of the National Company Law Tribunal, Mumbai (“NCLT”) to direct the Enforcement Directorate (“ED”) to release attached properties of a corporate debtor, after the approval of a resolution plan by the NCLT, in light of Section 32A of the Insolvency & Bankruptcy Code, 2016² (“IBC”).