Nitin Jain Liquidator PSL Limited vs Enforcement Directorate

Judicial Analysis Court Copy Headnote Facts Arguments Court observation

Table of Content
1. jurisdiction of authorities under pmla and ibc. (Para 1 , 2 , 3)
2. petitioner's arguments regarding section 32a's applicability. (Para 10 , 11 , 12)
3. respondent's standpoint on criminal liability and attachment. (Para 13 , 14 , 15)
4. court's analysis of section 32a and pmla interactions. (Para 40 , 41 , 42 , 43)
5. final verdict allowing ongoing liquidation process. (Para 101 , 102)

JUDGMENT

For the purposes of convenience and ease of reference, this judgment is being divided into the following Sections detailed below:

PART	TABLE OF CONTENTS	PARAGRAPH NOS.
A	PREFACE	1-3
B	THE BACKGROUND	4-9
C	PETITIONER`S CONTENTIONS	10-12
D	SUBMISSIONS OF THE RESPONDENT DIRECTORATE	13-21
E	THE PRELIMINARY OBJECTION	22-26
F	SUBMISSIONS OF THE SECURED CREDITORS	27-32
G	SUBMISSIONS OF LUCKY HOLDINGS	33-34
H	SCHEME OF THE IBC	35-39
I	SECTION 32A AND THE LEGISLATIVE INTENT	40-51
J	LIQUIDATION UNDER THE IBC	52-61
K	STATUTORY PROVISIONS UNDER PMLA	62-72
L	ISSUE OF PRIMACY	73-88
M	THE RESOLUTION AND LIQUIDATION CAUSEWAYS	89-94
N	SECTION 32A AND THE DEFINING MOMENT	95-98
O	ANCILLARY ISSUES	99-100
P	SUMMATION	101
Q	OPERATIVE DIRECTIONS	102

A. PREFACE

1. The principal question which falls for determination in this writ petition is whether the aut