SC Upholds Benami Act Attachment During IBC Moratorium, Dismisses Appeals

• The Supreme Court dismissed appeals challenging property attachment under the Benami law during an IBC moratorium.
• The ruling upholds NCLAT and NCLT findings, allowing Benami Act attachments even during ongoing insolvency proceedings.
• Legal experts state the decision clarifies jurisdictional conflict between IBC and the Benami Act, reinforcing statutory exclusivity.
• The judgment implies that non-IBC public law proceedings, like Benami attachments, must be contested within their own statutory scheme.
• This ruling signals that IBC goals cannot override express statutory remedies in independent legislation, especially for economic offenses.