In a significant ruling clarifying the jurisdictional boundaries between the Insolvency and Bankruptcy Code, 2016 (IBC) and the Prohibition of Benami Property Transactions Act, 1988 (Benami Act), the Supreme Court has held that the National Company Law Tribunal (NCLT) lacks the jurisdiction to adjudicate challenges against provisional attachment orders passed by Benami authorities. A Bench
Orders Passed Under Benami Act Cannot Be Questioned Before IBC Authorities; Supreme Court Imposes ₹20 Lakh Fine on Liquidators for ‘Abuse of Process’
