Once in a Blue Moon Academia (OBMA)

  Incommensurability Amidst PMLA and IBC in the Context of the DHFL Scam Incommensurability Amidst PMLA and IBC in the Context of the DHFL Scam Posted on 06/04/2024 (GMT 10: 50 hrs) While searching through the intricacies and further implications of the DHFL Scam, we have come across a Linkedin article by CA (Dr.) Bishwadev Dash, which shows the incommensurabilities of having the IBC as well as PMLA at the same time: Conflict between IBC and PMLA VIEW HERE ⤡ Here are a few general excerpts (with relevant links from our website) from the above article: Corporate Insolvency Resolution Process (CIRP; under the IBC, 2016) (…) this can potentially hinder the PMLA’s objective of seizing assets linked to money laundering. Additionally, Section 32A of the IBC shields the debtor from further prosecution for pre-insolvency offenses once a resolution plan is approved. Section 32A of the IBC shields the debtor from further prosecution for pre-insolvency offenses once a resolution plan is approved.

 Ajay Piramal in the Ring of Fire of Controversies Posted on 06/04/2024 (GMT 10:15 hrs) In Continuation with  WHO IS AJAY PIRAMAL? VIEW HERE ⤡ As far as we know, while talking about Mr. Ajay Piramal’s previous (mis-)deeds, we have come to note the following points stretched across the past decade or so: 1. Mr. Piramal is an alleged  insider trader  (2016) 2. He is an  environmental terrorist  (for polluting Digwal, Telangana in 2019) and also who sought “blanket stay order” at the National Green Tribunal, which was rejected. In the case of the DHFL also, he wanted such a similar stay order on the “controversial” NCLAT second verdict (27/01/2022). 3. He was involved in  Flashnet Scam , 2018 (though Mr. Piramal was ready to defame The Wire, who first exposed the scam, for reporting the same, but till date: no such step has been taken by him) 4. He is  possibly  involved in  contempt of court  during the DHFL resolution process by ignoring NCLT’s first verdict (19/05/2021) and skipping th