HC held that the provisional attachment under the PMLA is a...

HC held that the provisional attachment under the PMLA is a two-stage scheme: the ED may provisionally attach property upon recording cogent reasons to believe, but confirmation is subject to independent adjudication by the Adjudicating Authority under s.8. The Adjudicating Authority performs quasi-judicial functions and must afford notice, hearing, evidence and reasoned determination. Where notice/summons for adjudication under s.5(3) issued beyond the 180-day period and the summons/notice expired without adjudicatory action under s.8(3), the extension principles applicable to quasi-judicial limitation periods apply; accordingly the petition challenging the attachment was disposed of consistent with those legal tenets.

---