Corporate debtors set to get IBC immunity against attachment of assets

The corporate affairs ministry (MCA) is planning to come up with a mechanism to ensure that the assets of corporate debtors under the insolvency resolution process are unencumbered and insulated from attachment by probe agencies. A senior government official told Business Standard: “Our position is very clear … We will carve out something in the insolvency and bankruptcy code to make sure assets remain unencumbered.” The MCA and the Enforcement Directorate (ED), which reports to the ministry of finance, have locked horns over the attachment of assets of Bhushan P.....

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