Webb15 apr. 2024 · The Appellate Tribunal reiterated that rules and actions under the Insolvency and Bankruptcy Code (IBC) would hold precedence over other laws and actions. The … Webbfcs,acma(cima-uk),cgma, llb,mba,pgpf, certified csr ; company secretary/insolvency law expert/adr-arbitration/corporate finance expert 6d
Whether Authorities Under PMLA Would Retain Jurisdiction To …
Webb3 mars 2024 · Section 31 of the Insolvency and Bankruptcy Code, 2016 (" IBC ") provides that once the Adjudicating Authority (as defined in the IBC) approves a resolution plan, it shall be binding on the corporate debtor, its employees, members, creditors including Central/State Government and any local authority to whom a debt arising under any law … Webb11 apr. 2024 · There is no conflict between Prevention of Money Laundering Act (PMLA) and Insolvency and Bankruptcy Code (IBC), and even if property of a corporate debtor has been attached under the PMLA, if the corporate insolvency resolution process (CIRP) has initiated, the property should become available to fulfil objects of IBC till a resolution … build a drawer into couch
PMLA vs IBC : Supreme Court Expresses Concerns Over ED …
Webbhit by Section 14 of IBC. Alternatively, even if for any reason it was to be held that Section 14 of IBC would not help, it appears to us that Section 238 of IBC would still apply. Although it is argued that PMLA is a special statute and has an overriding effect still Section 238 of IBC is also a special statute and which is subsequent statute. Webb9 dec. 2024 · The Prevention of Money Laundering Act, 2002 (“PMLA”) seeks to punish money-laundering and to provide for confiscation of property derived from or involved in the offence. On the other hand there is the Insolvency and Bankruptcy Code, 2016 (“IBC/Code”) which was enacted to simplify the process of Insolvency and Bankruptcy … Webb20 sep. 2024 · In Cambridge Dictionary, moratorium refers to a period of time during which a particular activity is stopped. In Insolvency and Bankruptcy Code, 2016, Section 33 (5) of the Insolvency and Bankruptcy Code, 2016 (“ IBC ”) stipulates “Subject to section 52, when a liquidation order has been passed, no suit or other legal proceeding shall be ... build a dream event