New Delhi, Nov 6 (PTI) The IBBI has directed insolvency professionals to file applications before special courts under the Prevention of Money Laundering Act (PMLA) for restitution of assets of corporate debtors, attached by the Enforcement Directorate (ED).

The Insolvency Bankruptcy Board of India (IBBI) said the move aims to enhance the value of the corporate debtor, thereby leading to higher realisation under the Insolvency and Bankruptcy Code (IBC).

In a circular issued on Tuesday, IBBI said, "Insolvency professionals are advised that in cases where assets of the corporate debtor are attached by the ED under the provisions under PMLA, the Insolvency Professional (IP) may file an application before the Special Court under sections 8 (7) or 8 (8) of the PMLA for restitution of such ass

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