NCLAT affirms that it Lacks Jurisdiction to Interfere with Confirmed ED Attachments Under PMLA

The NCLAT (National Company Law Appellate Tribunal) has affirmed that it lacks jurisdiction to interfere with "confirmed ED attachments under PMLA" (Prevention of Money Laundering Act). This crucial ruling clarifies the hierarchy of laws between the IBC (Insolvency and Bankruptcy Code) and PMLA. The NCLAT, being a tribunal under the IBC, cannot override or set aside attachment orders passed by the Enforcement Directorate under PMLA, especially once those attachments have been confirmed by the Adjudicating Authority under PMLA. This reiterates that PMLA proceedings, dealing with proceeds of crime, operate independently and take precedence.