Retention of seized jewellery under PMLA was sustained because interlinked accounts, fund movements and jewellery payments supplied a prima facie nexus with proceeds of crime. The inquiry may cover property held by a person not accused of the scheduled offence where the property is connected with, or requires examination regarding, such proceeds. Recovery from a joint family residence and lack of transaction-wise tracing for individual items did not negate the nexus. Defective initial service of notice did not invalidate adjudication because participation and opportunity to defend caused no identified prejudice.
Retention of seized jewellery under PMLA was sustained because interlinked accounts, fund movements and jewellery payments supplied a prima facie nexus with proceeds of crime. The inquiry may cover property held by a person not accused of the scheduled offence where the property is connected with, or requires examination regarding, such proceeds. Recovery from a joint family residence and lack of transaction-wise tracing for individual items did not negate the nexus. Defective initial service of notice did not invalidate adjudication because participation and opportunity to defend caused no identified prejudice.
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
TaxTMI 
