A villa located in New Delhi was provisionally attached by a Deputy Director appointed under the…
Neither statement correctly describes a confirmed attachment. Under Section 8(3), the attachment continues during investigation for up to 365 days or during the pendency of…
Choose your answer
A villa located in New Delhi was provisionally attached by a Deputy Director appointed under the Prevention of Money Laundering Act, 2002. The Adjudicating Authority under Section 8 confirms the attachment. Consider the following statements :
1. The attachment shall continue during the investigation subject to one hundred and eighty days
2. The attachment shall become final after the provisional attachment has continued for three hundred and sixty five days
Which of the statements given above is/are correct ?
Answer and explanation
Correct answer D
Neither statement correctly describes a confirmed attachment. Under Section 8(3), the attachment continues during investigation for up to 365 days or during the pendency of the relevant court proceedings. It becomes final following an order of confiscation, rather than merely because 365 days have passed. The 180-day limit concerns the initial provisional attachment under Section 5.
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