The Delhi high court in its latest ruling has backed the legitimacy of the insolvency and bankruptcy law restraining any coercive action by the Enforcement Directorate against a company undergoing liquidation process approved by the national company law tribunal.

       In a detailed ruling on interplay between IBC and Prevention of Money Laundering Act (PMLA), the Delhi HC has allowed a writ petition by a liquidator to proceed with the liquidation process of the corporate debtor. The court has stopped the Enforcement Directorate from taking any further action, coercive or otherwise, ...