Case Law Analysis
|Bombay High Court
PMLA Overrides SARFAESI & RDB Acts | Secured Creditors Must Seek Relief Under Section 8(8) PMLA Before Special Court : Bombay HC
Bombay High Court rules that the Prevention of Money Laundering Act (PMLA) prevails over the SARFAESI Act and RDB Act, denying secured creditors priority over attached proceeds of crime. Creditors must approach the Special Court under Section 8(8) of PMLA for relief, reinforcing the Act's overriding confiscatory regime.