Maintainability of a Section 7 insolvency petition against a financial service provider denied; appeal dismissed for non maintainability and complex d...
Provisional attachment under Prevention of Money Laundering Act requires exhaustion of statutory remedies; impugned order set aside, appeal to tribuna...
Restoration of property under Prevention of Money Laundering Act after attachment dispute rendered academic; possession directed to successful resolut...
Goods Transport Agency services via e commerce portals: consignment note creates custody and liability and enables exemption for unregistered recipien...
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
Section 32A of the IBC was construed as protecting corporate debtor property only from the statutory trigger point after a qualifying change in control following approval of a resolution plan, and not as retrospectively nullifying a provisional attachment already made before such approval. The Tribunal held that reliance on Section 32A(1) was misplaced because the dispute concerned attachment of property, not prosecution, and that immunity under Section 32A depends on fulfilment of the prescribed conditions, including the status of the incoming person. The prior attachment under PMLA was therefore sustained, and the appeal challenging attachment and confirmation was dismissed.
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