Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
PMLA s.41 says "no civil court shall have jurisdiction to entertain any suit or proceeding" on a matter the Director, an Adjudicating Authority or the Appellate Tribunal is…
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Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Answer and explanation
Correct answer C
PMLA s.41 says "no civil court shall have jurisdiction to entertain any suit or proceeding" on a matter the Director, an Adjudicating Authority or the Appellate Tribunal is empowered to determine, and bars injunctions against action under the Act. A provisional attachment is contested before the Adjudicating Authority and then in appeal, not in a civil suit.