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2019 (2) TMI 1711 - Tri - Money LaunderingPrayer for withdrawal of application - Vacation of attachment order passed by the Adjudicating Authority under PMLA over the assets of the corporate debtor - HELD THAT - When the Resolution Professional counsel herself has reported that the RP has no objection for dismissal of this application as withdrawn with liberty to come before this Bench with same cause of action, this Bench with a view to avoid appearance of a Government Authority before this Bench without any purpose, this application as sought by the Resolution Professional is hereby dismissed with liberty to file afresh in the event her appeal has been allowed by the Hon'ble ATML. Application dismissed as withdrawn.
Issues:
1. Vacation of attachment order under PMLA over assets of corporate debtor. Analysis: 1. The judgment pertains to an application filed by the Resolution Professional seeking vacation of an attachment order passed by the Adjudicating Authority under the Prevention of Money Laundering Act (PMLA) over the assets of the corporate debtor. The Resolution Professional reported that they have no objection for the dismissal of the application as withdrawn with liberty to come before the Bench with the same cause of action. The Bench noted that the appeal on the attachment order is pending before the Appellate Tribunal PMLA (ATMAL), and the counsel on behalf of Enforcement Directorate has been appearing for several hearings. Considering the circumstances and to avoid the appearance of a Government Authority before the Bench without any purpose, the application was dismissed with liberty to file afresh if the appeal is allowed by the Hon'ble ATML. 2. The judgment concludes by stating that the application is dismissed as withdrawn with liberty as mentioned earlier. The decision was based on the Resolution Professional's stance and the status of the appeal pending before the Appellate Tribunal PMLA. The Bench's rationale for the dismissal was to prevent unnecessary appearances before the Bench and to allow the Resolution Professional to file a fresh application if the appeal is successful at the Appellate Tribunal PMLA.
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