TaxTMI 
TaxTMI 
2024 (10) TMI 1406
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.... prayer: "(i) issue a writ, order or direction in the nature of Mandamus commanding learned court having jurisdiction/authority concerned to consider the case of the petitioner in light of direction of order dated 01.07.2024 passed by this Court in CRLP No.20172 of 2023; Prakash Chandra Tiwari vs. Union of India and Others during the pendency of this writ petition." 3. Learned counsel for the petitioner submits that respondents be directed to return back the money deposited by the petitioners and other investors with interest as applicable. 4. Learned counsel appearing for respondent no.2, Enforcement Directorate, has submitted that the petitioner has statutory remedy under Section 8 of the Prevention of Money Laundering Act,....
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....offence under section 3".], it may serve a notice of not less than thirty days on such person calling upon him to indicate the sources of his income, earning or assets, out of which or by means of which he has acquired the property attached under sub-section (1) of section 5, or, seized [or frozen] [Inserted by Act No. 2 OF 2013] under section 17 or section 18, the evidence on which he relies and other relevant information and particulars, and to show cause why all or any of such properties should not be declared to be the properties involved in money-laundering and confiscated by the Central Government: Provided that where a notice under this sub-section specifies any property as being held by a person on behalf of any other perso....
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....and record a finding to that effect, such attachment or retention of the seized property" by Act No. 2 OF 2013] or record shall, (a) continue during [investigation for a period not exceeding [three hundred and sixty-five days] [Inserted by Finance Act, 2018 (Act No. 13 of 2018) dated 29.3.2018.] or] the pendency of the proceedings relating to any [offence under this Act before a court or under the corresponding law of any other country, before the competent court of criminal jurisdiction outside India, as the case may be; and] (b)[ become final after an order of confiscation is passed under sub-section (5) or sub-section (7) of section 8 or section 58 B or sub-section (2A) of section 60 by the Adjudicating Authority] ....
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.... cannot be conducted by reason of the death of the accused or the accused being declared a proclaimed offender or for any other reason or having commenced but could not be concluded, the Special Court shall, on an application moved by the Director or a person claiming to be entitled to possession of a property in respect of which an order has been passed under sub-section (3) of section 8, pass appropriate orders regarding confiscation or release of the property, as the case may be, involved in the offence of money-laundering after having regard to the material before it.] [(8) Where a property stands confiscated to the Central Government under sub-section (5), the Special Court, in such manner as may be prescribed, may also direct....