Judge dated 22.01.2019. The
Division Bench stayed further proceedings under the PMLA
Act and directed that the CD shall not alienate the property ... question has to be found out from the scheme of the PMLA Act, 2002 .
Section 2 of the PMLA Act, 2002 contains definition clause. Section
Judge dated 22.01.2019. The
Division Bench stayed further proceedings under the PMLA
Act and directed that the CD shall not alienate the property ... question has to be found out from the scheme of the PMLA Act, 2002 .
Section 2 of the PMLA Act, 2002 contains definition clause. Section
purpose of PMLA and the mechanism
thereunder. The reporting requirements under the PMLA are also to the FIU, a
body under the PMLA ... same Act. It does not concern exercise of independent powers under
two different Acts as in the present case viz PMLA and Sebi Act
Prevention of Money
Laundering Act, 2002 (hereinafter referred to as ' PMLA Act '). In the
Provisional Attachment Order shares of AS Coal has been ... rejected by this Tribunal. It is submitted that
no proceedings under PMLA Act has been initiated against SEPCO or
Shandong nor there is any adjudication
Prevention of Money
Laundering Act, 2002 (hereinafter referred to as ' PMLA Act '). In the
Provisional Attachment Order shares of AS Coal has been ... rejected by this Tribunal. It is submitted that
no proceedings under PMLA Act has been initiated against SEPCO or
Shandong nor there is any adjudication
into the matters governed under the Prevention of Money
Laundering Act, 2001 (PMLA) and, therefore, Section 14 , having
consequent upon an order passed ... equal and coordinate 'Adjudicating Authority' under the PMLA Act, 2002 . As
such the 'Adjudicating Authority' (NCLT Ahmedabad Bench, Court 2,
Ahmedabad
Income Tax Act, 1961 .
10. In rebuttal, the Appellants firstly submit that the Income Tax Act, 1961
and the PMLA, 2002 are two different sets ... PMLA is not 'evidence* in
itself even for the purpose of prosecuting the accused under the PMLA, let
alone under the Income Tax Act
into the matters governed under the Prevention of Money
Laundering Act, 2001 (PMLA) and, therefore, Section 14 , having
consequent upon an order passed ... equal and coordinate 'Adjudicating Authority' under the PMLA Act, 2002 . As
such the 'Adjudicating Authority' (NCLT Ahmedabad Bench, Court 2,
Ahmedabad
PMLA would
be stayed by virtue of Section 14 of the IBC has already
been considered by the Appellate Tribunal under the PMLA
Act ... Tribunal is of the
considered view that the attachment order under PMLA Act
is a nullity and non-est in law and hence it will
cover the property/ assets of the Corporate Debtor attached under the
PMLA Act , hence, the Adjudicating Authority ought to have allowed the relief
as claimed ... submission of the Appellant to release the attachment under the PMLA Act .
Company Appeal (AT) (Insolvency) No.1495 of 2024 10
In paragraph
