# In the matter of Rotomac Global Private Ltd. IA No.150-2018 In CP No.(IB)70-ALD-2017

> NCLT judgment dated 2019-01-10. Citation: TCN-2019-NCLT-05271. The case involves an application filed by the Liquidator, Mr. Anil Goel, appointed by the…

- **Court:** NCLT
- **Order date:** 10 Jan 2019
- **Citation:** TCN-2019-NCLT-05271
- **Category:** IBC
- **Source page:** https://caseease.in/cases/ibc/nclt-chandigarh/rotomac-global-private-ltd-ia-no150-2018-in-cp-noib70-ald-2017-690638e1

## Summary

### Background

The case involves an application filed by the Liquidator, Mr. Anil Goel, appointed by the National Company Law Tribunal (NCLT), Allahabad Bench, seeking a direction to the Deputy Director, Directorate of Enforcement, to withdraw the Provisional Attachment Order no.08/2018 dated 28.05.2018, thereby de-attaching the properties of the Corporate Debtor, Rotomac Global Private Ltd., under the Prevention of Money Laundering Act (PMLA) and restoring the properties to the Liquidator for liquidation under the Insolvency and Bankruptcy Code (IBC), 2016. The application also seeks to declare the right of lenders/creditors on the attached properties of the Corporate Debtor to recover their dues prevails over the right of the respondent to attach the properties under PMLA, and to

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## Facts

Bank of Baroda initiated Corporate Insolvency Resolution Process (CIRP) against Rotomac Global Private Ltd. The application was admitted on 20.09.2017. After the conclusion of CIRP, the Authority ordered for liquidation of the Corporate Debtor and appointed Mr. Anil Goel as Liquidator. Mr. Anil Goel filed an application under Section 35(1)(n) of the Insolvency & Bankruptcy Code, 2016, seeking a direction to the Deputy Director, Directorate of Enforcement, to withdraw its Provisional Attachment Order no.08/2018 dated 28.05.2018. The Directorate of Enforcement of Delhi Zonal Office-I initiated an investigation for commission of offence under Section 3 of Prevention of Money Laundering Act, 2002 (PMLA), vide an ECIR No.01/DLZO-I/2018 dated 18.02.2018. The

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## Issues and analysis

### Issue 1: Whether the overriding effect provided in Section 71 of the PMLA, 2002 or the overriding effect …

**Ratio:** Where two statutes contain non-obstante clause, the later statute must prevail, provided

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**Reasoning:** The court considered the objectives of both Acts, noting that PMLA aims to prevent money

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**Interpretation:** The interpretation involves determining which statute, PMLA or IBC, takes

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**Application:** The court ultimately concluded that it is for the authorities under PMLA to

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## Parties

- **Judges:** BIKKI RAVEENDRA…; Saroj Ra…
- **Appellants:** Anil…
- **Respondents:** ROTOMAC GLOBAL…; RAMANJIT KAUR…

## Timeline

- **2017-09-20 — CIRP Application…**: Bank of Baroda's CIRP application against Rotomac Global Private Ltd. was admitted by the…
- **2018-02-18 — Investigation…**: Directorate of Enforcement initiated investigation for commission of offence under…

## Legal provisions

- [Insolvency and Bankruptcy Code, 2016, Section 35(1) — Powers and duties of liquidator](https://caseease.in/legal-provisions/insolvency-and-bankruptcy-code-2016/section-35)

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