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Q13 · UPPSC current affairs · 21 September 2026 · PIB · PMLA IBC Interface Section 32A Immunity

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English हिंदी

Consider the following statements regarding the interface between the PMLA and the IBC:1.Section 32A of the IBC grants complete immunity to corporate debtor assets from PMLA action post-resolution if the management changes.2.The Ministry of Finance directly administers the adjudication of PMLA cases through the Indian Institute of Corporate Affairs.Which of the statements given above is/are correct?

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A 1 only
B 2 only
C Both 1 and 2
D Neither 1 nor 2

Correct answer: (a) 1 only

Explanation

Statement 1 is correct because Section 32A of the IBC provides statutory immunity preventing prosecution and asset attachment for pre-CIRP offences once a resolution plan is approved and management changes. Statement 2 is incorrect because while the IICA examined the regulatory friction, it does not directly administer PMLA adjudication.

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