NCLT: Dissolution under IBC Can’t Be Used to Frustrate Ongoing Criminal Prosecution under PMLA - 07.07.2025

The NCLT, while rejecting an application u/s 54 of IBC, has observed that "dissolution under Section 54 of the IBC results in the Corporate Debtor ceasing to exist as a legal entity. Such a consequence would inevitably frustrate the ongoing criminal prosecution under the PMLA”.

Tags : NCLT PMLA Section 54 of the IBC

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