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    PMLA intersection in IBC proceedings
    2024-04-29

    The Insolvency and Bankruptcy Code, 2016 (IBC) has been at loggerheads with the Prevention of Money Laundering Act, 2002 (PMLA) on various occasions in the corporate insolvency resolution process (CIRP) of a distressed entity. Courts and tribunals have passed varying judgments, either giving primacy to the IBC or allowing the Enforcement Directorate (ED), a functionary under the PMLA, to perform its duties irrespective of the ongoing CIRP of a company.

    Filed under:
    India, Insolvency & Restructuring, Litigation, Shardul Amarchand Mangaldas & Co, Insolvency, Prevention of Money Laundering Act 2002 (India), Insolvency and Bankruptcy Code (India), National Company Law Tribunal
    Authors:
    Anoop Rawat
    Location:
    India
    Firm:
    Shardul Amarchand Mangaldas & Co
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