NCLT is not empowered to deal with the matters falling under PMLA – Ashok Kumar Sarawagi Vs. Enforcement Directorate, Government of India – NCLT Kolkata Bench
April 11, 2022
The Adjudicating Authority held that with utmost regard to the order relied upon by the Applicant, is bound by the order Varrsana Ispat Limited Vs. Deputy Director of Enforcement [2019] ibclaw.in 67 NCLAT passed by Hon’ble 3 Member Bench of NCLAT which took the view that NCLT is not empowered to deal with the matters falling under PMLA. In the present case since notice impugned has been issued under the Prevention of Money Laundering Act, 2002 therefore, this application is not maintainable and the same is rejected.