Restoration under Section 8(8) of the Prevention of Money Laundering Act, 2002 requires that the…
The proviso to section 8(8) bars a claim unless the Special Court is satisfied that the claimant "has acted in good faith and has suffered the loss despite having taken all…
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Restoration under Section 8(8) of the Prevention of Money Laundering Act, 2002 requires that the claimant-
Answer and explanation
Correct answer B
The proviso to section 8(8) bars a claim unless the Special Court is satisfied that the claimant "has acted in good faith and has suffered the loss despite having taken all reasonable precautions and is not involved in the offence of money laundering". Kinship with the accused, lodging the FIR or bare proof of title is not enough.