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TMI Blog2022 (5) TMI 399X X X X Extracts X X X X X X X X Extracts X X X X ..... wered by Three Member Bench - It was held in the case that this Tribunal makes it candidly clear that filing of Application under Section 60(5) of the I B Code is not an all pervasive one, thereby conferring Jurisdiction to an Adjudicating Authority (NCLT) to determine any question/issue of priorities, question of Law or Facts pertaining to the Corporate Debtor when in reality in Law, the Adjudicating Authority (NCLT) is not empowered to deal with the matters falling under the purview of another authority under PMLA. The Adjudicating Authority did not commit any error in rejecting the application filed by the Resolution Professional challenging the order passed by the PMLA Court - appeal dismissed. - Comp. App. (AT) (Ins.) No. 4 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal may deem fit and proper. 3. The Provisional Attachment order passed by the PMLA Court was under challenge in the said I.A, the Adjudicating Authority, after considering the submissions of the parties, made following observations in paragraphs 50 and 52:- 50. The Ld. Counsel appearing for the Enforcement Directorate has also referred to the order dated 2nd of May, 2019 passed by the National Company Law Appellate Tribunal in Company Appeal (AT) (Insolvency) No. 493 of 2019 titled Varrsana Ispat Limited Vs. Deputy Director of Enforcement passed on 2nd of May, 2019 wherein it was held that it is clear that the Prevention of Money-Laundering Act, 2002 relates to proceeds of crime and the offence relates to money-laundering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nch decision of this Tribunal in Kiran Shah v. Enforcement Directorate- Company Appeal (AT) (Ins.) No. 817 of 2021 decided on 03.01.2022. It is submitted that Kiran Shah s Judgment has relied on earlier judgment of this Tribunal in Varrsana Ispat Limited Vs. Deputy Director of Enforcement- Company Appeal (AT) (Insolvency) No. 493 of 2019 which stood approved by the Hon ble Supreme Court also. 7. We have considered the submissions of the Learned Counsel for the parties and perused the record. 8. The issue which has been raised before us is covered by Three Member Bench Judgment in Kiran Shah. Submissions which are sought to be raised by the Counsel for the Appellant were noticed and answered by Three Member Bench. We may refer to p ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... by this Tribunal as not maintainable in law. Resultantly, the Appeal fails. 9. Learned Counsel for the Respondent is also right in submission that against the judgment of this Tribunal dated 02.03.2019 in Varrsana Ispat Limited , Civil Appeal No. 5546 of 2019 was filed by Varrsana Ispat Ltd. which Civil Appeal was dismissed on 22.07.2019. The judgment of Varrsana has been relied by Three Member Bench in Kiran Shah. 10. We are of the view that the Adjudicating Authority did not commit any error in rejecting the I.A (IB) No. 74/KB/2022 filed by the Resolution Professional challenging the order passed by the PMLA Court, we do not find any merit in the Appeal. The Appeal is dismissed. - - TaxTMI - TMITax - Insolvency & Bankrupt ..... X X X X Extracts X X X X X X X X Extracts X X X X
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