As per case facts following a large-scale trading scam NSEL's defaulters' properties were attached by the Enforcement Directorate under PMLA and the State of Maharashtra under MPID Act The Supreme ... Court appointed a committee to execute decrees for victim recovery Secured creditors and insolvency professionals challenged this arguing for priority over the attached assets and arguing that the IBC moratorium should override the MPID Act The question arose i whether Secured Creditors have priority over assets attached under PMLA and MPID Act by virtue of SARFAESI RDB Act and ii whether MPID attached properties are available for decree execution despite the IBC Moratorium Finally the Supreme Court answered Question i in the negative and Question ii in the affirmative It held that the State's MPID Act being validly enacted for a specific State List subject matter Depositor protection is not overridden by the Central SARFAESI or RDB Acts Banking Furthermore since attached properties vest in the Competent Authority under the MPID Act they are outside the scope of the IBC Moratorium