Property seized by the Enforcement Directorate (ED) under the Prevention of Money-laundering Act (PMLA) must be returned if the investigation does not result in any proceedings within 365 days, the Delhi High Court has held.
In an order, Justice Navin Chawla said the continuation of a seizure beyond 365 days, in the absence of the pendency of any proceedings, will be confiscatory in nature and violative of the right to property (Article 300A of the Constitution). | Latest News India
New Delhi: The Delhi High Court has said that if an investigation under the Prevention of Money Laundering Act (PMLA) goes “beyond 365 days” without any proceeding related to the offence, then the Enforcement Directorate has to return the “seized” property to the owner.
A single judge bench of Justice Navin Chawla, in a January 31 order, made the observation while
Delhi HC: Seized Property Must Be Returned If Money-Laundering Investigation Lapses Beyond 365 Days menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
In an order passed earlier this week, Justice Navin Chawla said the continuation of a seizure beyond 365 days, in the absence of the pendency of any proceedings relating to any offence before a court, shall be confiscatory in nature and without the authority of law and, thus, violative of Article 300A of the Constitution.