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.

 Sell-ebration of Turncoats: The BJP’s Laundry of Deceit Sell-ebration of Turncoats: The BJP’s Laundry of Deceit The Collusion Among the Business Tycoons, BJP and the “Underworld” Posted on 30/03/2024 (GMT 17:05 hrs) After the revelation of the   Flashnet Scam⤡ , where, in 2018, Mr. Ajay Piramal bought BJP Union Minister Mr. Piyush Goyal’s company at 1000 times its face-value (In percentage terms, the premium was nearly 100,000%!) and later sold it off within a few months, there is another big scam that has come to the fore: The Aviation scam as well as the PMC Bank Scam, perpetrated by Mr. Praful Patel, who belongs to that faction of the NCP (Ajit Pawar group), which is now part-and-parcel of the BJP-led NDA since July 2023. Though on 17 th  October, 2019, Mr. Piyush Goyal justifiably accused Mr. Patel of fraudulent transactions in collusion with the wife of underworld gangster late Iqbal Mirchi. Interestingly enough, in the beginning of that very same year,  Cobrapost  on 29.01.2019,