https://www.taxtmi.com/caselaws?id=418332 The appeal was dismissed as the National Company Law Tribunal (NCLT) does not have jurisdiction over matters governed by the Prevention of Money Laundering Act (PMLA). The moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) does not apply to PMLA proceedings, and Section 32-A of IBC was found inapplicable due to the absence of an approved resolution plan. The judgment clarified that there is no conflict between IBC and PMLA, with PMLA taking precedence in cases involving criminal proceeds. The appeal was deemed not maintainable, directing the resolution professional to seek redressal through the PMLA Appellate Tribunal. en-us Mon, 03 Jan 2022 00:00:00 +0530 Tue, 15 Feb 2022 16:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=418332 The appeal was dismissed as the National Company Law Tribunal (NCLT) does not have jurisdiction over matters governed by the Prevention of Money Laundering Act (PMLA). The moratorium under Section 14 of the Insolvency and Bankruptcy Code (IBC) does not apply to PMLA proceedings, and Section 32-A of IBC was found inapplicable due to the absence of an approved resolution plan. The judgment clarified that there is no conflict between IBC and PMLA, with PMLA taking precedence in cases involving criminal proceeds. The appeal was deemed not maintainable, directing the resolution professional to seek redressal through the PMLA Appellate Tribunal. Case-Laws Insolvency and Bankruptcy Mon, 03 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=418332