Case Law Details
Kiran Shah Vs Enforcement Directorate (NCLAT Delhi)
In so far as anyone aggrieved against any decision or order of the ‘Adjudicating Authority’ of the PMLA, then it is open to him to prefer an Appeal before the Appellate Tribunal, PMLA by resorting to the relevant provision(s) of the ‘Prevention of the Money Laundering Act, 2002’. Moreover, as against any decision or order of the Appellate Tribunal, PMLA, the concerned person/entity may file an ‘Appeal’ to the Hon’ble High Court under Section 42 of the PMLA.
There is no two opinion of the fact that the ‘First Appeal’ to the Appellate Tribunal is as per Section 26 of the PMLA against the Order passed by the ‘Adjudicating Authority’ under sub Sections 2 & 3 of Section 8 of the A
As far as the present case is concerned, the ‘Appellant/Resolution Professional’ even though has filed Company Appeal (AT)(Ins) No. 817 of 2021 being dissatisfied with the order dated 31.12.2020 in IA 81 of 2020 in CP(IB) No. 397/NCLT/AHM/2018 [filed by the Applicant/IRP for KSL Industries Ltd./Corporate Debtor under Sections 14,18,25 & 60(5) of Code] seeking to set aside the ‘Attachment of the Property of the ‘Corporate Debtor’ by the Respondent/Enforcement Directorate vide order dated 24.10.2019 passed by the ‘Adjudicating Authority’ PMLA etc., 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. Viewed in that perspective, IA 81 of 2020 in CP(IB) No. 397/NCLT/AHM/2018 filed by the Applicant/IRP for KSL & Industries Ltd is held by this ‘Tribunal’ as not maintainable in law. Resultantly, the Appeal fails.
In fine, Company Appeal (AT)(Insolvency) No. 817 of 2021 is dismissed. No Costs. Connected I.A.s’ No. 2778 of 2021 and 2194 of 2021(Stay Application) are dismissed.
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