ED must return seized property if PMLA probe goes beyond 365 days and no prosecution complaint filed: Delhi High Court

It rejected the argument of the Enforcement Directorate (ED) that since Section 8(3) of PMLA does not provide for any consequence for lapse of 365 days, there can be no direction for the return of the property so seized.
PMLA with Delhi High Court
PMLA with Delhi High Court

The Delhi High Court recently held that if the investigation under Prevention of Money Laundering Act (PMLA) goes beyond 365 days and does not result in any prosecution complaint, then the seizure of that property lapses and the same must be returned to the person from whom it was taken [Mr Mahender Kumar Khandelwal v Directorate of Enforcement & Anr]

Loading content, please wait...
Bar and Bench - Indian Legal news