IBC to trump PMLA in case of corporate debtors, not wrongdoers: SC SECTIONS Share Synopsis In a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, but continue against wrongdoers in the erstwhile management. New Delhi: In a ruling that will have a bearing on several high-profile insolvency cases, the Supreme Court has clarified that proceedings against a corporate debtor over money-laundering charges would end once a resolution plan is approved, but continue against wrongdoers in the erstwhile management. A three-judge bench led by Justice RF Nariman recently clarified this while upholding Section 32A of the Insolvency and Bankruptcy Code. The pending cases that will be impacted by the ruling include that of Bhushan Power &Steel, which was acquired by JSW Steel.