2023 (5) TMI 1031 - HC - PMLA

Money Laundering - Attachment of assets of petitioner - case of the Petitioners was that the 180 days period after the PAO was passed, as prescribed under the PMLA, has expired - HELD THAT:- There is no doubt that the issue relating to the expiry of 180 days and the manner in which the same would affect the PAO, is pending in Vikas WSP and Others Vs. Directorate Enforcement and Another, [2020 (11) TMI 629 - DELHI HIGH COURT]. However, the same being a legal issue, there are various other submissions also which may have to be considered in the present matter, bearing in mind that the Petitioner Company has gone into insolvency and moratorium has been declared.

Admittedly, the Tribunal under the PMLA is functioning and the Petitioner is free to approach the Tribunal under Section 26 of the PMLA. 15. The Petitioner has already filed an appeal before the Appellate Tribunal, which is stated to have been dismissed for non-prosecution - However, since the Petitioner was already before this Court and was granted interim protection, it is deemed appropriate to permit the Petitioner Company through the RP to approach the Appellate Tribunal for restoration of its appeal within the next two weeks. The Appellate Tribunal would proceed to hear the appeal in accordance with law.

Petition disposed off.