Under section 20 of the Prevention of Money-laundering Act, 2002, upon expiry of 180 days, property…
Section 20(3) provides that on expiry of the 180-day period "the property shall be returned to the person from whom such property was seized or whose property was ordered to…
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Under section 20 of the Prevention of Money-laundering Act, 2002, upon expiry of 180 days, property shall-
Answer and explanation
Correct answer A
Section 20(3) provides that on expiry of the 180-day period "the property shall be returned to the person from whom such property was seized or whose property was ordered to be frozen" unless the Adjudicating Authority permits further retention or freezing. Vesting in the Central Government happens only on confiscation under s.9.