Confiscation power under PMLA reassigned to Special Court replacing Adjudicating Authority in attachment and seizure proceedings. Clause 176 substitutes "Adjudicating Authority" with "Special Court" in section 60(2A) of the Prevention of Money Laundering Act, so that confiscation, ... Summary
Confiscation power under PMLA reassigned to Special Court replacing Adjudicating Authority in attachment and seizure proceedings.
Clause 176 substitutes "Adjudicating Authority" with "Special Court" in section 60(2A) of the Prevention of Money Laundering Act, so that confiscation, attachment and seizure powers under the Act are exercised by the Special Court rather than by the Adjudicating Authority.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.