IICA’s Meet the Legend Programme Explores ‘PMLA–IBC Interface’
The Indian Institute of Corporate Affairs (IICA) hosted a session under its 'Meet the Legend' programme for the 8th Post Graduate Insolvency Programme (PGIP) cohort. Mr. Balesh Kumar, Hon’ble Member of the Appellate Tribunal, delivered a lecture on the PMLA-IBC interface. The discussion focused on harmonising the Insolvency and Bankruptcy Code, 2016 and the Prevention of Money Laundering Act, 2002.
Why It Matters
This is relevant for competitive exams as it touches upon important Indian legal and financial frameworks such as the PMLA and IBC, which are part of governance and economy syllabi.
In Simple Words
The Indian Institute of Corporate Affairs organised a lecture for its 8th PGIP cohort under the 'Meet the Legend' programme. Mr. Balesh Kumar spoke about the connection and challenges between the Prevention of Money Laundering Act and the Insolvency and Bankruptcy Code.
The session covered money laundering stages, hawala transactions, key legal provisions, and judicial precedents. It highlighted the complexities when corporate debtor assets face attachment under the PMLA during insolvency resolution, emphasising a multidisciplinary legal understanding.
Key Points
- IICA Manesar hosted a session under the 'Meet the Legend' programme for the 8th PGIP cohort.
- The lecture topic was PMLA–IBC Interface: Emerging Bonhomie.
- Mr. Balesh Kumar, Hon'ble Member of the Appellate Tribunal (PMLA, FEMA, PBPTA, NDPSA and SAFEMA), delivered the lecture.
- Mr. Gyaneshwar Kumar Singh is the Director General CEO of IICA.
- The session highlighted Section 32A of the IBC, 2016.
- Money laundering stages discussed include Placement, Layering and Integration.
- PMLA provisions discussed include Sections 3, 4, 5, 8, 44 and 45.
- The programme connects PGIP participants with eminent members of the judiciary, tribunals, regulators and the corporate ecosystem.
Exam Angle
A. Mr. Balesh Kumar, Hon’ble Member, Appellate Tribunal
Source: Press Information Bureau