Secured Creditors – Priority over the assets attached PMLA and MPID Act – SARAESI Act, 2002

HELD that Secured Creditors cannot claim priority of interest against the properties attached under the MPID Act and that the provisions of MPID Act would override any claim for priority of interest by the Secured Creditors in respect of the properties attached under MPID Act.

Section 14 IBC – Moratorium – Properties of Judgment Debtors and Garnishees under MPID Act.

HELD that the properties of the Judgment Debtors and Garnishees attached under the MPID Act would be available for execution of decrees against the Judgment Debtors by the Supreme Court Committee, despite the Moratorium under Section 14 of the IBC.