Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
IBC - Highlights / Catch Notes

Home Highlights January 2025 Year 2025 This

NCLT Mumbai's order vacating attachment orders issued by ED ...


Corporate Debtor Loses Plea Against ED's Attachment Orders Under PMLA for Failure to Timely Appeal.

January 2, 2025

Case Laws     IBC     HC

NCLT Mumbai's order vacating attachment orders issued by ED under PMLA upheld. Petitioner, aware of CIRP proceedings, failed to avail statutory remedy of appeal before NCLAT within prescribed period. Plea of violation of natural justice rejected as petitioner deliberately did not intervene despite knowledge. HC vacated interim stay, directed petitioner to address jurisdictional issue, consider converting writ petition under Article 226.

View Source

 


 

You may also like:

  1. Seeking to release the attachment of the tiles relating to the Corporate Debtor - Attachment of goods by the GST department before initiation of CIRP - The assets, which...

  2. When authorities of Enforcement Directorate (ED) have reasons to believe, based on material, that any person possesses proceeds of crime and is likely to conceal or...

  3. AT ruled against Bank's challenge to property attachment under Prevention of Money Laundering Act (PMLA). Despite Bank's prior mortgage rights and claim as fraud victim,...

  4. CIRP proceedings - The attachment of the assets of the Corporate Debtor by the Economic Offences Wing will hamper the claim of the Creditors of the Corporate Debtor and...

  5. Corporate insolvency resolution process (CIRP) initiated against corporate debtor and corporate guarantor. Financial creditor granted loan to corporate debtor, secured...

  6. The AT dismissed the appeal against the provisional attachment order u/s 26 of the Prevention of Money Laundering Act, 2002 as not maintainable. An appeal lies against...

  7. The National Company Law Appellate Tribunal (NCLAT) dismissed the appeal, upholding the order admitting the Section 7 application filed by ICICI Bank against the...

  8. Initiation of CIRP - Failure to pay outstanding salary dues to the employees - Operational Creditor has not received his dues from the Corporate Debtor and the...

  9. The HC held that since proceedings for attachment and adjudication by the Adjudicating Authority are in aid of trial of money laundering offence under PMLA, an appeal...

  10. Right to claim over property occupied by the Corporate Debtor - Even though the object behind imposing moratorium under section 14 of IB Code, is to prevent depletion of...

  11. The appellant lacked locus standi to challenge the admission order passed by the Adjudicating Authority on a Section 7 application filed by SREI Equipment Finance...

  12. Initiation of CIRP - Corporate Debtor although once appeared before the Adjudicating Authority but neither filed any reply nor appeared thereafter and Adjudicating...

  13. Money Laundering - Compliance of summons issued by the petitioner, ED u/s 50 - District Collectors to appear before the ED - The Supreme Court expressed disapproval of...

  14. The NCLT had directed the release of an industrial promotion subsidy claim amount to the Corporate Debtor, which was sanctioned prior to the commencement of CIRP. The...

  15. Ex-parte order - Principles of Natural Justice - When Corporate Debtor is a Company where there are more Directors rather than only one as can be seen from the Balance...

 

Quick Updates:Latest Updates