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HIGH COURT OF JUDICATURE FOR RAJASTHAN BENCH AT JAIPUR
MR. MANINDRA MOHAN SHRIVASTAVA, CJ, MR. JUSTICE UMA SHANKER VYAS, J
Union Of India, Through Assistant Director, Directorate Of Enforcement – Appellant
Versus
M/s Udaipur Entertainment World Pvt. Ltd. – Respondent
JUDGMENT :
Manindra Mohan Shrivastava, C.J.,
1. Instant appeal is directed against the order dated 18.09.2024 passed by the learned Single Judge, whereby the interim order passed on 06.07.2023 in favour of the appellant/writ petitioner has been vacated at the instance of buyers of different flats constituting properties of a housing project developed by respondent No.1 M/s. Udaipur Entertainment World Private Limited.
2. The petitioner Union of India has filed a petition under Article 227 of the Constitution of India with a prayer to quash and set aside an order dated 24.02.2022 passed by the National Company Law Tribunal, Mumbai (for short, hereinafter referred to as ‘NCLT Mumbai’). The petitioner’s case is that the properties in dispute, in the present case, were provisionally attached by the E.D. in exercise of powers under Section 5 of the Prevention of Money Laundering Act, 2002 (for short, hereinafter referred to as ‘PMLA 2002’) after a criminal motion was initiated under an FIR dated 07.03.2016 against certain persons who are accused of having committed offence under the PMLA 2002. The order of provisional attachment passed on 02.02.2019 was subsequently confirmed by the adjudi
The NCLT lacks jurisdiction to vacate attachment orders under the Prevention of Money Laundering Act, as it operates as a self-contained code with specific provisions for appeals.
The court established that the nature of challenge under Article 226 and the absence of jurisdiction could trigger the invocation of the High Court's jurisdiction. The court also clarified that the f....
Condition precedent for invocation of Section 241(2) of the Act, which requires the Central Government to come to an opinion that the affairs of the company “are being conducted in a manner prejudici....
The Prevention of Money Laundering Act, 2002 proceedings are criminal in nature, necessitating appeals to be filed on the criminal side due to potential penalties including imprisonment and property ....
The NCLT has exclusive jurisdiction under the IBC Code, and property dues of KMC do not take precedence over the dues of other classes of secured creditors.
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