2024 (4) TMI 1404

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....br>JUSTICE MUNISHWAR NATH BHANDARI CHAIRMAN AND SHRI BALESH KUMAR MEMBER For the Appellants : Shri Vivek Jain, Adv. Shri Mehul Prasad, Adv. For the Respondents : Shri PriyankKhattar, Adv for ED. FINAL ORDER By this appeal under Section 26 of the Prevention of Money Laundering Act, 2002 (for short `the Act of 2002), the challenge is made to the order dated 25.05.2022 passed by the Adjud....

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....osecution complaint has been filed despite the expiry of the period of more than 365 days from the date of seizure of the cash/documents/devices. Thus, in view of Section 8(3) of the Act of 2002, seizure cannot continue now, rather it has to be declared as lapsed. 3. The learned counsel for the appellant has made even a reference of the order issued under Sections 17 to 21 of the Act of 2002 to....

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....expired from the date of the impugned order. In absence of a prosecution complaint, the court proceedings relating to offence cannot be said to be pending. He, however, submitted that the matter involves serious allegations against the appellant. 5. We have considered the rival submissions of the parties and perused the record. 6. A challenge to the order of the Adjudicating Authority dated ....

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....hat effect, whereupon such attachment or retention or freezing of the seized or frozen property]or record shall- (a) continue during [investigation for a period not exceeding [three hundred and sixty-five days] 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 crimin....