Insolvency & Bankruptcy Code Prevails Over Prevention Of Money Laundering Act : PMLA Appellate Authority

Arunima Bhattacharjee

23 Sept 2019 7:33 PM IST

  • Insolvency & Bankruptcy Code Prevails Over Prevention Of Money Laundering Act : PMLA Appellate Authority

    In a decision with a possibility of having a far-reaching effect, the Appellate Authority of the Prevention of Money Laundering Act, 2002 (PMLA) has upheld the prevalence of the IBC over the provisions of PMLA. The Appellate Bench has ordered the release of specific properties of PMT Machines Ltd., which were attached by the ED (Directorate of Enforcement), in view of allegations...

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