Supreme Court Upholds Priority of Asset Attachments under PMLA and MPID Act over Secured Creditors’ Claims in NSEL Case

In a significant ruling addressing competing claims over attached properties in the National Spot Exchange Limited (NSEL) case, the Supreme Court has upheld that assets attached under the Prevention of Money Laundering Act (PMLA) and the Maharashtra Protection of Interests of Depositors (MPID) Act will take precedence over claims by secured creditors under the SARFAESI

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