The National Company Law Appellate Tribunal (NCLAT) on Friday asked the divergent Enforcement Directorate and the Ministry of Corporate Affairs to discuss and reach a consensus on the attachment of assets of Bhushan Power and Steel (BSPL).
The ministry and directorate have locked horns over the issue. While the ED is of the opinion that it can attach the property of BPSL under the Prevention of Money Laundering Act (PMLA), the corporate affairs ministry has been maintaining that ED can not do so as the company is under the insolvency proceedings.
The case is currently being heard by the NCLAT. A three-member bench headed by Chairperson Justice S J Mukhopadhaya said there was no question of amendment of laws, and both the wings of the central government should settle the issue.
