https://www.taxtmi.com/caselaws?id=406469 The Tribunal dismissed both appeals, upholding NCLT's orders that declared attachment orders under PMLA null and void. It held that NCLT has jurisdiction to entertain Resolution Professional's application under IBC. The Tribunal ruled that the moratorium under Section 14 of IBC applies to civil proceedings under PMLA. It emphasized IBC's primacy over PMLA in money laundering cases and highlighted the impact of Section 32A of IBC on attachment orders. The Tribunal concluded that releasing attachments during CIRP facilitates the resolution process and aligns with IBC's objectives. en-us Fri, 09 Apr 2021 00:00:00 +0530 Wed, 14 Apr 2021 15:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=406469 The Tribunal dismissed both appeals, upholding NCLT's orders that declared attachment orders under PMLA null and void. It held that NCLT has jurisdiction to entertain Resolution Professional's application under IBC. The Tribunal ruled that the moratorium under Section 14 of IBC applies to civil proceedings under PMLA. It emphasized IBC's primacy over PMLA in money laundering cases and highlighted the impact of Section 32A of IBC on attachment orders. The Tribunal concluded that releasing attachments during CIRP facilitates the resolution process and aligns with IBC's objectives. Case-Laws Insolvency and Bankruptcy Fri, 09 Apr 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=406469