https://www.taxtmi.com/caselaws?id=395908 The court held that the National Company Law Tribunal (NCLT) lacked jurisdiction to adjudicate matters falling under the Prevention of Money-Laundering Act (PMLA). It clarified that the NCLT's powers do not extend to proceedings governed by the PMLA, emphasizing the distinct scopes and objectives of the PMLA and the Insolvency and Bankruptcy Code (IBC). The court set aside the NCLT's order, granting respondents six weeks to address PMLA matters and invoking Section 14 of the Limitation Act, 1963. All factual issues were left open, except the resolved legal question, and related petitions were closed. en-us Tue, 02 Jun 2020 00:00:00 +0530 Sat, 13 Jun 2020 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=395908 The court held that the National Company Law Tribunal (NCLT) lacked jurisdiction to adjudicate matters falling under the Prevention of Money-Laundering Act (PMLA). It clarified that the NCLT's powers do not extend to proceedings governed by the PMLA, emphasizing the distinct scopes and objectives of the PMLA and the Insolvency and Bankruptcy Code (IBC). The court set aside the NCLT's order, granting respondents six weeks to address PMLA matters and invoking Section 14 of the Limitation Act, 1963. All factual issues were left open, except the resolved legal question, and related petitions were closed. Case-Laws Money Laundering Tue, 02 Jun 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=395908