Delhi High Court: A petition was filed by Bhushan Power and Steed Limited under Article 226 read with Section 482 of Criminal Procedure Code (CrPC) seeking quashing of case filed under Section 3 and 4 of the Prevention of Money Laundering Act, 2002 (PMLA) and all consequential proceedings arising out of or emanating therefrom including the order issuing process dated 17-01-2020 passed by the Special Judge qua the petitioner company. Manmeet Pritam Singh Arora, J., partly allowed the petition and the order dated 17-01-2020, taking cognizance and issuing process against the Petitioner Company, was set aside.
Punjab National Bank (PNB) initiated corporate insolvency resolution proceedings (CIRP) against Bhushan Power and Steel Limited…
