Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Section 9 provides that on an order of confiscation "all the rights and title in such property shall vest absolutely in the Central Government free from all encumbrances".…
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Under the Prevention of Money-laundering Act, 2002, which of the following statements is correct?
Answer and explanation
Correct answer B
Section 9 provides that on an order of confiscation "all the rights and title in such property shall vest absolutely in the Central Government free from all encumbrances". It does not vest in a State or in a court, and existing charges do not travel with it.